BusinessMirror October 26, 2018

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

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A broader look at today’s business n Friday, October 26, 2018 Vol. 14 No. 16

‘Amend Timta to reveal list of firms with perks’

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By Bianca Cuaresma

@BcuaresmaBM

HE Department of Finance (DOF) is again urging Congress to amend the Tax Incentives Management and Transparency Act (Timta) so the government can make public the list of corporations that receive tax incentives.

The DOF said that its proposal to “introduce improvements” to the Timta, or Republic Act 10708, is

part of government efforts to make “fairer, targeted, more accountable and transparent the current system

of corporate taxation.”

Finance Undersecretar y Karl Kendrick T. Chua said in a

90,000

The number of SMEs that pay the regular corporate income tax rate of 30 percent, the highest in the region, in contrast to 3,102 corporations that paid discounted CIT rates of 6 to 13 percent statement that when the government gives an incentive to one group, another group pays for it in the form of higher taxes. Thus, those who pay higher taxes to compensate for Continued on A5

Trade row-wary investors eye PHL as haven

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BORACAY REOPENS FRIDAY; NO MORE BEACH PARTIES

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AY g o o d b ye t o b e a c h parties and water sports when the white-sand resort of Boracay Island in the central Philippines reopens to tourists on Friday after a sixmonth shutdown.

“Our guests can expect a better Boracay when it comes to maintaining a high environmental standard,” Tourism Secretary Bernadette Fatima Romulo Puyat said via Facebook Messenger.

Please manage your expectations, she added in a word of advice to tourists expecting the same Boracay.

Drinking and smoking in public places will be banned, along with the late-night parties that have made the island one of Asia’s top tourism destinations.

Jet sk is and other water spor ts will be banned until further notice, and sand castle making will be regulated, according to a Twitter advisory by Cebu Air Inc. Confirmed bookings with accredited hotels

will be required before being allowed entry to the island.

The number of visitors will be capped at 6,405 arrivals per day, while only 19,000 tourists will be allowed on the island at any given time, Environment Secretary Roy A. Cimatu said.

Thailand, which attracts five times more travelers than the Philippines, is also trying to ease congestion at popular beach destinations. President Duterte earlier this year called Boracay a cesspool and ordered its closing on April 26 so the island could be mend.

Heal it did, but much still needs to be done, Romulo Puyat said, including building wider roads in the main town, so the ecological recovery will be sustained.

“We are doing this to preserve the natural beauty of Boracay,” Romulo Puyat said.

“The island is a model of sustainable tourism in the country and we hope that this will inspire those incharge of other attractions in the Philippines.” Bloomberg News

By Elijah Felice E. Rosales @alyasjah

Out-of-pocket health expense of Pinoys rose in 2017–PSA

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OUR Chinese investors fleeing the fallout from the trade war are eyeing to locate in the Philippines, but are holding off their plans with the looming rationalization of tax incentives, according to the Philippine Economic Zone Authority (Peza).

Peza Director General Charito B. Plaza said she has received four groups of Chinese businessmen planning to invest in the country. They are apparently fleeing their country now heavily suffering from high tariffs from the United States.

However, their plan to relocate to the Philippines is still in the pipeline, as they will first observe closely the developments regarding the impending overhaul of incentives. Under the Tax Reform for Attracting Better and High-quality Opportunities (Trabaho) bill, tax perks granted to economic zone firms will be rationalized, with some incentives set to be removed.

See “Trade,” A2

By Cai U. Ordinario

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FUTURE MOBILITY Models stand by the Isuzu mu-X RZ4E as the Chamber of Automotive Manufacturers of the Philippines Inc. gears up for the 7th Philippine International Motor Show happening at the World Trade Center in Pasay City. The biggest motoring event in the country brings together top brands in the business to showcase the latest automobiles and other motoring-related products, with the theme “Future Mobility.” NONIE REYES

PESO EXCHANGE RATES n US 53.7370

@cuo_bm

HE out-of-pocket (OOP) health expenses incurred by Filipinos continued to rise and expanded by 8.8 percent on an annual basis in 2017, according to the Philippine National Health Accounts (PNHA) released by the Philippine Statistics Authority (PSA).

PSA data showed household out-of-pocket expenses reached P372.8 billion in 2017. This accounted for 54.5 percent of Current Health Expenditures (CHE) in 2017.

“Out of pocket expenses include medicines, food supplements, other medical products, therapeutic appliances, outpatient medical care, dental care, diagnostic services, and private and public hospital care,” the PSA explained earlier.

The PSA said more than half of OOP worth P186.6 billion, or 50.1 percent, went to pharmacies. Private general hospitals only came in second at P97.5 billion, or 26.1 percent, followed by providers of ambulatory health care at P50.3 billion, or 13.5 percent.

Data from the PSA showed that government schemes and compulsory contributory health-care financing schemes accounted for only 33 percent, or P225.9 billion of CHE. Voluntary health-care payment schemes contributed P85.7 billion, or 12.5 percent of total CHE. The countr y’s Total Health Expenditures (THE) at current prices grew by 8 percent in 2017 to P712.3 billion, from P659.3 billion in 2016. It contributed 4.5 percent to Philippine GDP.

n JAPAN 0.4787 n UK 69.2240 n HK 6.8536 n CHINA 7.7407 n SINGAPORE 38.9229 n AUSTRALIA 37.9276 n EU 61.2226 n SAUDI ARABIA 14.3249

Continued on A2

Source: BSP (25 October 2018 )

News

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A2 Friday, October 26, 2018

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Guban a witness in shabu case, stays with Senate

By Butch Fernandez @butchfBM & Rene Acosta @reneacostaBM

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EN. Richard J. Gordon, chief prober in the Senate’s P6.8-billion shabu smuggling inquiry, is zeroing in on “collusion” at the Bureau of Customs that allowed the illegal-drug shipment to enter the country.

Lapeña out of BOC, but promoted to Tesda

By Bernadette D. Nicolas @BNicolasBM

A

MID calls for his resignation over a P6billion shabu smuggling that slipped past the Bureau of Customs, Commissioner S. Isidro Lapeña was instead promoted by the President to a Cabinet-rank position, particularly as the next director general of the Technical Education and Skills Development Authority (Tesda).

“General Lapeña will move to Tesda. I will promote you to a Cabinet member position,”Duterte said in a speech on Thursday during the 117th anniversary of the Philippine Coast Guard.

Lapeña is replacing lawyer Guiling Mamondiong, who has decided to run for Lanao del Sur governor in 2019 midterm polls.

Days before the House inquiry on the shabu controversy, former X-ray chief Lourdes Mangaoang had called for the replacement of Lapeña for alleged negligence and incompetence, claiming that the four magnetic lifters found in Cavite were indeed used to conceal shabu.

This was a claim previously denied by Lapeña, citing the negative result of the swab test conducted by the Philippine Drug Enforcement Agency (PDEA).

Duterte also immediately named Maritime Industry Authority (Marina) Administrator and former Armed Forces Chief of Staff Rey Leonardo Guerrero as Lapeña’s replacement in the Bureau of Customs.

The President has also ordered that all the current Customs personnel be placed on “floating status” so that Guerrero can freely choose his personnel, advising him to consider tapping military men.

“The commissioners are out, the department heads, out…. You better go there to-

morrow in my office so that we can have the ceremonies right away,” he said, publicly addressing Guerrero.

Although Duterte said he knew that Guerrero was reluctant to leave Marina, he said the “demands of public service and the need for honest men requires your presence there.”

Duterte has yet to name a replacement for Guerrero.

Meanwhile, he also warned Lapeña that work in Tesda “could be messy at times.”

“But I’m sure your training as a military man just like Jagger would augur well for the country,” he said, referring to Guerrero.

Prior to the announcement, Lapeña met with the Executive Secretary regarding the controversial shabu shipment.

However, the Palace denied that the transfer was related to the controversy.

“Nope. PRRD promoted Lapeña to a Cabinet position. He already had him in his mind,” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo told reporters.

Duterte has the penchant for appointing military men in government posts, saying that they follow his orders diligently.

‘P11-B’ claim disputed

MEANWHILE, Lapeña disputed on Thursday the PDEA claim that the amount of shabu that slipped past Customs was actually 1.618 tons and worth P11 billion, saying this was just pure “speculation.”

This, after the PDEA revised its estimate for the missing shabu that slipped past through Customs from the magnetic lifters found in Cavite in August.

Earlier, the PDEA said the illegal drug was estimated to weigh 1 ton and worth P6.8 billion.

However, PDEA chief Director General Aaron Aquino said they made a recomputation after

weighing the empty lifters found in Cavite and comparing it to the weight declared in the importation documents. But Lapeña said he can’t understand how it became P11 billion.

“Look at the four empty containers. That will not result in P11 billion,” he said, adding that based on his computation, it will not even weigh 1 ton but just more than 600 kilos.

“So you multiply that 600 or 700 plus, if you will multiply that by the price of shabu that time, which is 6,800 per gram, then that’s more or less the price, that’s why I do not know why the amount bloated.... Well, again it is speculation,” he said in a briefing with Palace reporters.

On Wednesday Lapeña had backtracked on his previous stance, and said he now believes the magnetic lifters contained shabu.

Prior to this, Lapeña said that there was no shabu inside the four magnetic lifters when these were discovered, citing the negative result of the swab test.

He explained that it was the presentation of the Department of Public Works and Highways which made him change his mind.

“But over time, because of the investigation that has been ongoing and then yesterday, when there was a presentation by the Department of Public Works Highways-Bureau of Equipment, a technical examination on the magnetic lifter, it turned out that the magnetic lifters are not capable [of carrying] scrap metal. So it was designed…to contain cargo and then with the presence of the lid…. The lid is also designed to conceal whatever is inside.

So that was not seen even [in] x-ray,” he said.

“That is why when that was presented, that is a convincing circumstantial evidence that made me believe that there is something inside the four magnetic lifters. That is why, I changed my position. I said, I am now convinced that there is something inside it,” he added.

Out-of-pocket health expense of Pinoys rose in 2017–PSA Continued from A1

Last year’s the consisted of 96.1 percent CHE and 3.9 percent Health Capital Formation Expenditures in the government sector.

“Per capita health spending of Filipinos in 2017 grew by 6.3 percent to P6,791. In real terms, per capita health expenditure of Filipinos amounted to P6,090,” the PSA said.

In July 2017 Philippine Institute for Develop-ment Studies (PIDS) senior research specialist Danica Aisa P. Ortiz and research fellow Michael R.M. Abrigo said Filipinos carried the “triple burden of disease” that has caused the loss of centuries worth of life and billions in public and out-of-pocket expenditures.

Ortiz and Abrigo said the affliction of household members to communicable diseases (CDs) and noncommunicable diseases (NCDs) and other health conditions can take a toll on families through the loss of life and/or skyrocketing outof-pocket expenditures.

The authors noted that 2015 data indicated that for every million Filipinos, around 580 years of life have been lost due to heart disease and stroke. Further, for every million Filipinos, 95 and 75 years of life were lost due to tuberculosis and interpersonal violence, respectively.

Apart from the loss of life, households and the national government spent around P465 billion to finance CHE.

By classification of diseases/conditions, NCDs account for more than half of the 2012 CHE, followed by CDs at more than a quarter. Injuries constituted about 6 percent, or P30 billion.

Ortiz and Abrigo said there is a need to improve the health system, particularly service delivery and to put up functional and strategically located health facilities.

Also crucial, the authors said, is the adequate human resource that will deliver the necessary services to the afflicted.

The authors said the government should implement an effective health insurance program to ensure that Filipinos will be able to get the healthcare they need.

At the same time, the chairman of the Blue Ribbon committee, which earlier moved to have former Customs intelligence officer Jimmy Guban detained for contempt, said they were not letting go of Guban just yet, despite an order by President Duterte on Wednesday for the police to arrest the Customs officer.

Gordon noted there is no court-issued warrant for the arrest of Guban, whom Senate probers now consider a vital witness, and have endorsed to the Department of Justice for entry into the witness protection program.

At a briefing on Thursday to update the media on developments in the continuing inquiry into big-time shabu smuggling—particularly the use of magnetic lifters to conceal the illegal drug in August—Gordon asserted, “This big shabu shipment cannot pass through Customs without collusion.”

Gordon added that Senate probers’ initial findings indicate that certain elements of the Philippine Drug Enforcement Agency (PDEA) “are also involved,” when asked who are among those likely to be included in the indictments the committee will recommend when the Blue Ribbon wraps up its inquiry.

Also on Thursday, the Philippine National Police said it will seek custody of Guban following Duterte’s order to Director General Oscar D. Albayalde to arrest him for his alleged involved in the smuggling of P6 billion worth of shabu into the country.

Albayalde said they were coordinating with Gordon’s office in order to obtain custody of Guban. However, the Blue Ribbon chief ruled on Thursday that the beleaguered Customs intelligence officer will remain in Senate custody.

This, even as Gordon assured he “respects President Duterte” but cannot turn over Guban “because he has no warrant.”

“We respect the President, but we need to assert the Senate position for Guban to remain in the Senate for his security,” Gordon added.

In reply to a question from DWIZ,

Trade. . .

Continued from A1

“This is due in part to the trade war between China and the US with soaring tariffs for products traded between these nations. The investors expressed, however, that because of the uncertainties of the Trabaho bill, they are still holding off their plans of transferring to the Philippines,” Plaza said.

She argued it could have been the perfect time to attract more American and Chinese firms to the Philippines, as it has trade privileges with the conflicting economies. Manila is a beneficiary of Washington’s Generalized System of Preferences (GSP), which eliminates duties on thousands of products.

Last year it was the sixth-largest beneficiary of the privilege, as it exported $1.5 billion of goods to the US. “The Philippines is at a prime spot to take advantage of the ongoing US and China trade war. To maintain its position as an attractive investment destination, the retention and enhancement of the incentives given to exporters is inherent,” Plaza argued.

As a resolve, she reiterated the government should not tinker with the incentives currently granted to Peza-registered

“We respect the President, but we need to assert the Senate position for Guban to remain in the Senate for his security.”—Gordon

Gordon said Guban’s security is primordial because he could be a vital witness against other well-placed people, adding that during the period since he was detained by the Senate, Guban continued to receive threats, both directed at him and his family.

“In compliance to the order of President Rodrigo Roa Duterte, Philippine National Police chief Director General Oscar Albayalde immediately coordinated with the Senate, through Sen. Richard Gordon, to seek custody of ex-Bureau of Customs executive Jimmy Guban,” PNP said in a statement on Thursday.

“Accordingly, Senator Gordon said he will take Albayalde’s request under consideration pending submission of the Blue Ribbon Committee’s report,” it added.

Guban has been detained at the Senate since September for allegedly lying under oath during the investigation by Gordon’s committee into the shabu smuggling case.

Albayalde said he directed the head of the PNP-Criminal Investigation and Detection Group, Director Roel Obusan, to touch base with Gordon on the matter.

Albayalde, who is in Malay, Aklan, said that right after he and Duterte talked on Guban’s case on Wednesday afternoon, he immediately coordinated with Gordon.

“I told him what the President wanted, that he wants Guban arrested. So what Senator Gordon told me is for us to wait for his report that he will submit to the Department of Justice,” he said.

“So from there, we will take the cue from Senator Gordon [as to] what would be the next step,” the PNP chief added.

Albayalde said that for now, there is no case yet against Guban. firms. She suggested that the Trabaho bill be separated into two packages: the first on the lowering of corporate income tax to benefit local firms, the second on the enhancement of incentives to attract more foreign investors.

“Peza’s position to separate the tax and incentives regime for exporters is for the Philippines to be on a par and stay competitive with other economic zones of countries similarly attracting industries, multinationals and exporters to invest in their country,” Plaza said.

“Domestic enterprises and small and medium manufacturing enterprises, likewise, need a separate and enhanced tax and incentives regime as the primary source of completing the supply chain, maximizing production and manufacturing capability and becoming initially as indirect exporters, suppliers of our exporters and even later...exporters themselves,” she added.

The Peza chief did not disclose the names of the investors, but revealed they are in the business of manufacturing, electronics and garments.

The Trabaho bill will gradually reduce CIT down to 20 percent in 2029, from 30 percent. On the other hand, it will remove a number of incentives that are deemed crucial by locators to maintain their operations here.

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DND eyeing to procure Spanish military equipment for AFP’s capability upgrade

By Rene Acosta

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@reneacostaBM

HE defense department is eyeing Spain as another possible source of equipment for the military’s ongoing capability upgrade following a discussion between Manila and Madrid on a proposed memorandum of understanding (MOU) on defense and logistics cooperation.

“The proposed MOU will serve as the legal framework for the Department of National Defense to procure defense equipment from Spain through government-to-government deals pursuant to Republic Act 9184,” said DND Assistant Secretary for Acquisition and Logistics Jesus Rey Avilla on Thursday.

“This is very timely in light of the ongoing implementation of the 2nd Horizon of the Revised Armed Forces of the Philippines Modernization Program,” added Avilla, who led defense and military officials in meeting officials from the Directorate General of Armaments and Materiel (DGAM) of Spain’s Ministry of Defense.

Both parties met in Manila for two days following the visit of DGAM’s officials, led by Maj. Gen. Felipe de la plaza, deputy national armament director for international relations.

During the meeting, both sides discussed the proposed MOU on logistics, defense materiel, armaments and defense industry cooperation.

The Spanish delegation manifested interest in collaborating with the local defense industry and even visited Arms Corp. of the Philippines, a local firearms manufacturing company.

Spanish defense industries have been actively participating in various procurement projects of the military under the AFP modernization program.

Among the most recent acquisitions involving Spain were the three Medium Lift Aircraft (C295) for the Philippine Air Force worth P5.29 billion, which were procured from Spanish aircraft manufacturer EADS CASA, now Airbus.

The aircraft are now being used for air transport and humanitarian assistance and disaster response.

Additionally, a notice of award has been issued on October 16 in favor of Airbus for the procurement of one unit of command and control fixed wing turboprop aircraft for the Air Force with a contract price of P1.8 billion.

Editor: Vittorio V. Vitug • Friday, October 26, 2018 A3

Group tells Comelec: Declassify details on party-list nominations

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

& Samuel P. Medenilla @sam_medenilla

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AVAO CITY—The election watch group Kontra Daya is urging the Commission on Elections (Comelec) to bare to the public the details of certificates of nomination and certificates of acceptance of nomination of partylist groups.

The group said it deems it necessary to analyze ahead of the 2019 midterm elections the qualifications of the reported 185 party-list groups, particularly the list of nominees and their programs of action, even if the Comelec has announced it would start posting the tentative list of candidates on November 5.

The Comelec has set from October 11 to 17 as the period for certificates of nomination and certificates of acceptance of nomination of party-list groups.

The Comelec should release this information online for all the world to see and scrutinize, the group said, adding that by this move, it would show the Comelec’s “adherence to transparency and accountability.”

Kontra Daya added that doing so “would also help bolster the Comelec’s commitment in making the elections

clean and honest.”

Motu propio purge

THE Comelec, meanwhile, announced that the purging of the final list of candidates for the 2019 midterm elections is being undertaken motu propio. The Comelec said the move aims to scrutinize further—and if its so warrants —cancel the Certificate of Candidacy (COC) of 95 candidates.

Comelec Spokesman James B. Jimenez said their legal department filed a petition to deny due course against the said political aspirants for committing material misrepresentation in their COCs. This is in addition to the 78 disqualification cases filed by private individuals before the poll body as of Wednesday.

Jimenez said the cases of the 95 candidates will be raffled to the first or second division of the poll body for processing. He said this usually takes 30 days, but it could take longer depending on the nature of each case.

If the respondents fail to defend themselves in the proceeding, they will be disqualified by the Comelec from participating in the 2019 polls.

“What we will be looking at in assessing the eligibility [of a candidate] is based on the requirements in the Constitution and the laws.

Not if a person is good or bad. As long as they are eligible, they will be allowed to run,” Jimenez said.

The Kontra Daya added that even if there had been news media organizations that already reported on the nominees of some party-list groups, “the media, election monitoring groups and the public could benefit from a more exhaustive information coming from the Comelec itself, particularly if readily accessible from its web site.”

Being transparent with information on party-list groups “is consistent with enhancing the 2019 elections, a promise that was made by Sheriff Abas when he was confirmed by the Commission on Appointments as Comelec chair last May 23,” the group said.

In Mindanao the Department of the Interior and Local Government (DILG) of the Autonomous Region in Muslim Mindanao had embarked on a road show on federalism, gathering information of various ARMM agencies and media practitioners, as well as the holding of a convention on issues besetting the Maguindanao province.

DILG Assistant Secretary Jonathan Malaya has assured that federalism “would not undo the developments of the Bangsamoro Organic

Law [BOL], but rather would serve as the necessary push and support that the Bangsamoro people need for the autonomy they have been fighting for.”

Secretary Gary Olivar of the Center for Federalism and Constitutional Reform said the proposed system—its principles and advantages—vis-à-vis the Bangsamoro Organic Law and the policy direction of President Duterte on shift to federal form of government are consistent with each other.

He also urged the participants to take part in the upcoming plebiscite on the BOL. The ARMM Bureau of Public Information also quoted one professor, Eddie Alih, a member of the Consultative Committee, to review the 1987 Constitution, as saying that while federalism “is not a panacea to all the problems of the Filipino people, it is a step along the way in our journey for better governance and progressive Philippines.”

He said the result of surveys indicating a number of Filipinos did not favor federalism was “because they don’t have a broad and deep idea on federalism that’s why we are doing this information drive to build their understanding toward federalism.”

A convention on federalism was also held last week in Maguindanao.

A4 Friday, October 26, 2018 • Editor: Vittorio V. Vitug

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Philippines gets voting seat in intl privacy body

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By Elijah Felice E. Rosales

@alyasjah

HE Philippines has secured a seat in the five-member panel of the International Conference of Data Protection and Privacy Commission (ICDPPC), notwithstanding the country’s nascent status in data privacy regulation.

The National Privacy Commission (NPC) said on Thursday that Manila clinched a voting seat in the Executive Committee of the ICDPPC. The commission is an international conference of 119 independent regulators from different countries exploring high-level proposals on data privacy and protection.

The executive committee is made up of five elected members with a term of two years. Its seating members are the privacy authorities of Australia, Canada, Burkina Faso and the United Kingdom, which holds the chairmanship.

The conference has two additional members, comprising the next host-

ing authorities: Albania and Mexico.

The conference this year gathered more than 1,200 delegates from around the world.

“Having a seat at the committee’s table to take part in addressing challenges that privacy regulators face is definitely a privilege for the NPC. It is an opportunity for learning from each other’s experience,” NPC Chairman Raymund E. Liboro said.

“Definitely, the Philippines, although young, has a lot to contribute too, especially, in assisting new members,” he added.

Manila’s election in the executive committee came at a time the world is grappling with a challenge to govern data. Social-media giant Facebook in September was hit with a data breach that compromised the accounts of more than 30 million users.

“What we are seeing today is a crisis of trust that is fueled by un-

authorized profiling, surveillance and increasing cases of personal data breaches. It is a hint for us to take a different tact and integrate ethics in the way we process personal data,” Liboro said.

The ICDPPC continues to expand its membership with the entry of four new members in the recent closed session, including Germany, South Korea and Argentina. Eleven new privacy authorities were also granted observer status, mostly from Asia, such as India, Indone-

sia, Malaysia, Saudi Arabia and the United Arab Emirates.

As part of the executive committee, the NPC is expected to take part in setting the agenda of the conference and in providing strategic direction on data privacy regulation for the next two years.

The NPC became member of the ICDPPC in October of 2016 after passing membership requirements and demonstrating commitment to global standards on data privacy protection.

Having a seat at the committee’s table to take part in addressing challenges that privacy regulators face is definitely a privilege for the NPC. It is an opportunity for learning from each other’s experience.”—Liboro

SRA board member backs sugar planters’ call to freeze TRAIN law implementation

By Jasper Emmanuel Y. Arcalas @jearcalas

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UGAR farmers and a member of the sugar board have thrown their support behind the proposed suspension of the additional excise tax on fuel under the second tranche of the Tax Reform for Acceleration and Inclusion (TRAIN) law to aid planters in coping with rising production costs and bring down the price of the sweetener in the market.

Sugar Regulatory Administra-

tion (SRA) Board Member Emilio Yulo, who represents the planters sector, proposed that the suspension on the oil excise tax hike should be at least six months instead of the three-month reprieve.

“Sugar farmers and a member of the sugar board are proposing to suspend the excise tax on fuel under the second tranche of the TRAIN law for at least six months to aid planters cope with rising production costs,” Yulo said in a news statement issued on Thursday.

“Part of our mandate in SRA is to encourage mechanization of farms to make these more efficient and globally competitive. How can our sugar planters, particularly the small farmers and agrarian-reform beneficiaries that comprise over 80 percent of sugar producers, continue to compete when they have to contend with high cost of fuel?” Yulo added.

The Confederation of Sugar Producers’ Associations Inc. (Confed), which accounts for 60 percent of the total planters in the country, has also expressed support to suspend the additional hike on oil prices starting January 1, 2019.

“Fuel is a primary need of the sugar industry from start to finish, and with mechanization at

the forefront of our program to enhance our global competitiveness, the imposition of excise tax for fuel has greatly increased our production cost,” Confed said in a separate statement.

“While mechanization’s intent is to lower our production cost, the same has not been achieved because of the implementation of the TRAIN law.

We fear that further implementing TRAIN 2, which will raise again the levy on fuel by P2 after a threemonth reprieve, will lead to higher production cost, ergo huge losses to the sugar industry,” Confed added.

Confed also backs the idea of extending the suspension on additional excise tax beyond the threemonth reprieve but did not give a specific timeline.

“We appeal to President Rodrigo Duterte to extend the suspension

in behalf of the 5 million direct and indirect stakeholders of the sugar industry,” it said.

“Coupled with that fact is the recent joint agreement by the Sugar Regulatory Administration and our economic departments to cap a price on sugar, industry stakeholders, which comprise mostly of small planters and agrarian-reform beneficiaries, will have to bear the cost of rising fuel prices in the event that the national government will enforce the TRAIN laws,” it added.

The group also proposed to cut also the additional taxes imposed on other commodities, such as sugar, aside from fuel to arrest the country’s rising inflation.

“We are also joining the call to suspend, or at the very least, slash the excise tax on fuel and other commodities under TRAIN 1 in the light of rising inflation,” it said.

CIAC starts squatter-clearing ops anew for new airport road

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IOSDADO MACAPAGAL INTERNATIONAL AIRPORT—The Clark International Airport Corp. (CIAC) has announced the clearing of squatters occupying lands within the Clark civil aviation complex.

In an official statement on Wednesday, the CIAC said the area is where private company GMR-Megawide will build the access road network for this airport’s new passenger terminal building project.

The occupied area, known as Group 4, is along the north side of the airport’s existing passenger terminal and alongside the Mabalacat City road and the old “Ammo Dump,” CIAC statement said.

The CIAC also said its Committee on Informal Settlers (CIS) will begin the process of clearing the informal settlers “after exhausting all legal remedies, including a series of dialogues and notices through the years.”

The CIS was created by CIAC management in August 2016. It is composed of heads of the Aviation Security Department, Emergency Services Department, Airport Operations and Management Group, Community Relations Department, Safety and Environmental Management Office and the Corporate Communications Office along with representatives from the Bases Conversion and Development Authority, Philippine National Police Aviation Security Command and GMR-Megawide.

Documents said the CIAC-CIS will seek the assistance of the local government unit of Mabalacat City, especially its social-welfare desk, and of the Clark Development Corp. in augmenting CIAC’s security personnel.

It can be recalled that numerous dialogues were conducted by CIAC with the informal settlers since 2009 in the hope arriving at “amicable settlements,” but to no avail. Several notices of eviction were also served to heads of families in the occupied areas.

Top CIAC management reiterated that the land occupied (approximately 12 hectares) at present is part of the Clark Freeport Zone and not “agricultural land,” and the settlers present there are “not farmers.”

The CIAC management also said, this time,

these informal settlers may have to relocate elsewhere, as they have been unlawfully occupying and even profiting from their crops, livestock and fruit-bearing trees using government-owned lands for several years now.

CIAC said the continuing increase of activities in the said areas pose serious hazard to airport operations as farm produce attract birds, which heighten the likelihood of bird strikes, especially now with more than 440 flights per week.

The CIAC said its management also gave clear instructions to the CIS and to all those involved in the process to exercise maximum tolerance and to ensure the orderly manner of clearing operations.

Meanwhile, the CIAC-CIS created a policy, which was approved by the CIAC board, for the grant of financial assistance to the affected informal settlers in reference to a previous policy implemented by CIAC in 2009 when it cleared informal settlers in the area of Industrial Estate-5, now occupied by the Clark Global City.

It was also reported years ago that millions of pesos were granted to several farmers who were tilling lands inside the civil aviation complex after they agreed to leave.

In 2009 some of these settlers received financial assistance from CIAC after a thorough evaluation by the Department of Agriculture and the Department of Environmental and Natural Resources of the produce (fruits and crops) in the said areas. They were also made to sign a “quitclaim,” which states that they are to vacate the premises and, together with their families, are prohibited to plant trees and crops within the entire Clark Freeport Zone.

In 2017 the affected informal settlers, represented by their association CABCOM, sought the assistance of the Department of Agrarian Reform and conducted a series of dialogues with CIAC and the Bases Conversion Development Authority to discuss, among others, the valuation of compensable trees, a separate financial assistance on the land occupied by informal settlers, and CIAC’s standing policy on prohibiting the entry of farm equipment and machineries on the affected areas, and CIAC’s offer of financial assistance. Ashley Manabat

Labor group slams ‘sham’ hearing on wage hike

By Samuel P. Medinilla @sam_medenilla

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ORKERS will need at least twice the prevailing P512 minimum wage in Metro Manila to cope with rising cost of living, according to a labor group.

Citing the result of their study, Partido Manggagawa (PM) Chairman Renato Magtubo said a family of five in the National Capital Region (NCR) would need at least P1,300 a day, or P39,000 per month, to live a “decent life.”

“Of the P39,000 monthly budget, 44 percent is earmarked for food and 56 percent for nonfood,” Magtubo said in a news statement.

“Utilities like electricity, water and cooking gas make up 8 percent, house rent 15 percent, transportation expenses 11 percent and education needs 13 percent of the total budget,” he added.

Among the most expensive of these daily items in the list were cooked meals with an estimated worth P410; house rental (P200); school allowance (P152.78); and transportation fares (P146.67).

Magtubo said their computation is even an underestimation, since it does not include leisure and recreation, savings or social security.

PM issued the statement on the eve of the public hearing of the Regional Tripartite Wages and Productivity Board-National Capital Region (RTWPB-NCR) in Pasay City on Thursday.

Magtubo decried the ongoing public hearing as a moro-moro, or a sham, alleging the wage board and employers have already decided to implement a P20 pay hike.

The labor leader said the “insulting” increase not make a dent on the cost of living of workers in the NCR. The RTWPB-NCR denied the allegation, stating it will only come out with the amount after concluding its public hearing as stipulated by the law.

The Associated Labor Unions (ALU), for its part, said it is ready to defend the position of the Trade Union Congress of the Philippines (TUCP), which it is affiliated with, for a P334 wage hike.

“We are not backing down with our P334 wage increase petition because we are not asking for lavish and extravagant wage increase. We are just demanding for a survival wage hike to recover lost real value of our wages so that we can be able to cope with rising inflation and avoid hunger,” ALUTUCP Spokesman Alan Tanjusay said in a separate statement.

For its part, the Bukluran ng Manggagawang Pilipino hit President Duterte for keeping his hand off from the ongoing wage hike hearing in NCR.

CAB sets Dec launch of flight data mobile app

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TARTING on December 21, air travelers may be able to access a mobile app program that shows real-time data on domestic and international flights.

Civil Aeronautics Board (CAB) Director Carmelo Arcilla also said the mobile app using digital technology seeks to improve passengers’ experience, since it contains real-time information about canceled and delayed flights.

Meanwhile, four international airlines are set to transfer their operations from the Ninoy Aquino International Airport Terminal 1 to Terminal 3 next year.

Manila International Airport Authority General Manager Ed Monreal identifies the airlines that have signified their intentions to be relocated to Terminal 3 as Qantas Airways, United Airlines, Qatar Airways and Turkish Airlines.

News BusinessMirror

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Friday, October 26, 2018 A5

From hospital arrest to PM? Arroyo stages comeback

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ORMER Philippine leader Gloria Macapagal-Arroyo has staged a political comeback, and opponents say she’s gunning for even more power.

a perfect partner of the administration,” House Minority Leader Danilo E. Suarez, a supporter of Arroyo, said in an interview earlier this month.

“She knows the problems and she knows the solutions.”

(See also “Speedy Arroyo,” published in the Businessmirror weekender on August 25, 2018)

Soaring prices

ARROYO

Shortly after the 2016 victory of President Duterte, an old friend of Arroyo, she was freed after almost five years in hospital detention on charges of election fraud and corruption. In July lawmakers loyal to Duterte voted her in as speaker of the House of Representatives—the most prominent position she’s held since her rule from 2001 to 2010.

Arroyo’s current legislative term expires in June 2019, and she has denied that she’s positioning herself for a proposed prime minister position that would be created through a shift to federalism advocated by Duterte. But that’s not enough to convince opposition lawmakers such as House Rep. Teddy B. Baguilat Jr. “The takeover of the house leadership already shows how Arroyo can easily become prime minister,” Baguilat said.

‘Duterte beware’

ARROYO, who has a doctorate in economics, has been a key figure in President Duterte’s efforts to fight the fastest inflation in almost a decade. Since she was elected speaker, Arroyo’s been attending committee hearings and expediting debates on key economic bills to ensure that they are passed.

So far, she’s had some notable successes. Several bills that had been stuck for a year or more—including removing caps on rice imports and a proposal to boost Central Bank capital and allow it to issue its own debt—passed under Arroyo. Last month Duterte’s plan to cut corporate income taxes also won approval in the House.

All these proposals must be approved by the Senate and by the President before they can be enacted. Her toughest challenge may be breaking an impasse with the Senate on how to proceed with President Duterte’s dream of shifting the country to a federal system of government.

Arroyo’s top aide, Elena Bautista-Horn, didn’t reply to a mobilephone message seeking comment on speculation that the speaker wants more power.

“My goal is straightforward—I want to help achieve the legislative agenda of President Duterte,” Arroyo told a business summit on October 18.

Recent surveys show the 71-yearold Arroyo remains unpopular with voters. Still, she’s tight with Duterte, 73, who calls her “ma’am” and claims to have been Arroyo’s confidante when she was running the country.

He owes her a lot, Duterte has said.

“As long as Duterte exudes strength, Arroyo will be a good ally in Congress,” Baguilat said. “However, once Duterte’s popularity and hold on power wanes, he better beware.”

‘Perfect partner’

ARROYO came to power in January 2001 after a popular revolt ousted Joseph Estrada from the presidency, and she won a disputed election in May 2004 for a fresh six-year term. She dealt with a fair amount of economic woes, with the peso sinking to a record low in 2004 and inflation climbing to a nine-year high of 10.5 percent in 2008.

Duterte’s allies in the House have great things to say about her.

“I think she saves the day—she’s

YET for all Arroyo’s moves, Duterte’s two-year-old administration is facing a backlash as the highest inflation since 2009 threatens to hinder one of Asia’s fastest-growing economies. Duterte has said that running the economy is not his area of expertise, and he’s under greater pressure to step up.

Arroyo is presenting herself as someone “very knowledgeable” on economic issues, said Malcolm Cook, senior fellow at Singapore’s ISEAS Yushof Ishak Institute. “Publicly expressing support and showing closeness to Duterte is good politics as he is the most popular and powerful politician in the country,” Cook said.

Her key legacy as president was the introduction of a law that increased the value-added tax, despite entrenched opposition. Her administration was constantly rocked by coup attempts and scandals.

Political rifts

SHE was arrested in 2011 by the administration of Benigno S. “Noynoy” Aquino III on charges that she had a hand in rigging the 2004 elections.

She denies the allegations. A local court is still hearing this case while Arroyo is out on bail.

In 2004 as the peso plunged and overseas investors fled, Arroyo acknowledged the Philippines was already in a fiscal crisis. Her presidency marked the Philippines’ most aggressive borrowing and highest interest rates after the regime of the late strongman former President Ferdinand E. Marcos Sr. Arroyo’s comeback was more due to political rifts in the House and less about her own political ambitions, according to University of the Philippines Professor Gene Pilapil. He called her a “safe choice” given her term is expiring.

Edwin Gutierrez, the Londonbased head of emerging-market sovereign debt at Aberdeen Standard Investments, said there’s little chance of an Arroyo comeback.

“Her administration was generally a disappointment despite her background precisely because of the corruption,” he said. “So I don’t think it’s going to cause much excitement.” Bloomberg News

‘Amend Timta to reveal list of firms with perks’ incentives should have the right to know who is benefiting from their hard-earned money.

According to DOF data, some 3,102 corporations in 2016 paid discounted corporate income tax (CIT) rates of 6 to 13 percent granted by 14 investment promotion agencies (IPAs) on the strength of 336 special laws for corporations.

In contrast, the DOF said about 90,000 small and medium enterprises (SMEs) pay the regular CIT rate of 30 percent, which is the highest in the region. The DOF noted that SMEs employ 2.5 million Filipino workers.

He said the government must stop granting hundreds of billions of pesos yearly to only a select group of companies that have already become profitable through lower taxes and other perks, and have been enjoying these incentives for decades.

Chua said the proposed reform in corporate taxation, which comprise Package 2 of the Duterte administration’s Comprehensive Tax Reform program (CTRP), is “pro-investment and pro-incentive” because it aims to

lower the CIT rate, while broadening the tax base through more prudent grant of tax incentives to businesses and improved compliance.

“Incentives should not be given indiscriminately at the expense of building up our more powerful attractions: first, a skilled and hardworking talent pool that needs sufficient human capital investments, second, an ambitious infrastructure development program that requires fiscal commitment; and third, a sizable SME community that deserves to be treated fairly,” he said.

The House of Representatives earlier approved its version of Package 2—the Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho) bill on September 10.

The Senate version of the bill is still pending at the committee level.

Chua said the approved House bill, which calls for reducing the CIT rate from 30 to 20 percent over 10 years, “is hardly inflationary while creating millions of jobs over the medium term as firms expand with more money at their disposal.” He also said incentives to local firms should be like scholar-

Continued from a1

ships to students—time-bound and with certain conditions.

“The student must pass the course and get a good grade. If he doesn’t, then he loses the scholarship. This is what performance-based means. We propose that firms that enjoy incentives must be bound by a contract on job creation or export targets, for instance,” he said.

“Although we want to help as many sectors as possible—and this is what we currently do with some 336 special laws that grant incentives—we cannot and should not because we cannot afford to give incentives left and right without a commensurate increase in the tax rates.

Not to mention that this is a chaos of priorities that demand harmony,” he added.

The DOF official said granting incentives “generously, and without limits,” erodes both the accountability and performance of the enterprise receiving it.

Chua said the Timta, which was enacted in 2015, allowed the government to verify the scale of the problem on the grant of incentives and enabled it to determine that in 2015 alone, it gave out a total of P301 billion worth of incentives.

Palace says Aunor will get National Artist award ‘in God’s perfect time’

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ELISTING renowned actresssinger Nora Aunor from the roster of National Artist awardees was meant to spare her from the emotional and psychological torment and anticipated barrage of mixed reactions the award will bring, Malacañang said on Thursday.

The Palace issued the statement a day after the National Commission for Culture and the Arts (NCCA) confirmed that Nora Aunor, known in her heydays as “the Superstar,” was deleted by Malacañang from the list.

In a briefing on Thursday with Palace reporters, Presidential Spokesman Salvador S. Panelo even quoted the actress as saying in a statement: “Ano ba naman ang isang award kung ang kapalit neto ay paulitulit na paghamak sa pagkatao ko at sa mga taong naniniwala sa akin…. Sapat na po sa akin ang respeto natatanggap ko sa mga kasamahan ko sa trabaho.

[I would rather not accept an award that would just give my critics the opportunity to repeatedly mock me.

I’m content with the respect and accolade that I get from my fellow workers in the industry”.]

NCCA Chairman Virgilio Almario said in an interview with reporters on Wednesday that Nora Aunor was automatically included in their list for this year’s National Artists after being excluded by the Aquino administration due to her alleged involvement in illegal drugs.

Sought for clarification on whether the issue on the noninclusion of Nora Aunor has anything to do with the issue on drugs, Panelo said he is not aware about such but he stressed that it is “discretionary” on the part of the President on whom to proclaim as National Artist.

“The power and the privilege

to appoint rests on the President,” he said.

“The artistical and musical legend that is Nora Aunor may not have passed the critical eyes of a select juror and the awarding authority to be bestowed the National Artist award, but her enrapturing film artistry and musicality and mass acceptance surpass any technical recognition given by any entity or authority,” said Panelo, who is also the concurrent chief presidential legal counsel.

“Her phenomenal rise to movie and musical stardom that counted a generation of shrieking and adoring fans unparalleled in the movie and music industry is a walking testament to her mesmerizing artistry and singing voice and the people’s acceptance. She truly is the crowned people’s artist,” he said.

Nonetheless, the Palace is still “optimistic” that Nora Aunor will be proclaimed National Artist “in God’s perfect time.”

“Her noninclusion does not diminish her iconic stature as the country’s Superstar and her significant contributions to film, theater, television and music industries,” he said.

This year’s batch of national artists include Ryan Cayabyab for music, Francisco Mañosa for architecture, Resil B. Mojares for literature, Amelia Lapeña-Bonifacio for theater and Eric de Guia, also known as Kidlat Tahimik, for film.

National artist awards were also posthumously given to Ramon Muzones for literature and Larry Alcala for visual arts.

They were recommended by the NCCA and Cultural Center of the Philippines after a selection process.

Bernadette D. Nicolas

Court clears drug queen’s daughter on narcotics rap

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HE Regional Trial Court (RTC) in Manila City has acquitted Diane Uy, daughter of convicted drug queen Yu Yuk Lai, of the drug charges filed against her because the case was a product of a “sham” search warrant.

In a 37-page decision issued by the Manila RTC Branch 49 presided by Judge Daniel Villanueva, the court held that agents of the Philippine Drug Enforcement Agency (PDEA) merely “planted” the evidence against Uy during the raid on his condominium unit in San Miguel, Manila, by the agency’s operatives, which allegedly resulted to the seizure of illegal drugs worth P17 million.

“Wherefore, in view of all the foregoing it having been found and declared that search warrant No. 5011[17] was invalid for lack of probable cause, and that all alleged contraband seized are inadmissible in evidence, and for lack of merit of the evidence in chief, and on ground of reasonable doubt, the Court hereby acquits the accused of the offense as charged,” the trial court ruled.

During the trial of the case, Judge Villanueva said the Court found “strong compelling evidence” that at least five agents of the PDEA went inside Unit3D owned by Uy without the accused or any other independent witnesses under the pretext of clearing and securing it; the CCTV cameras were tampered with; no real and thorough search was conducted by the lone searching officer; the PDEA K9 dogs failed to detect narcotic at any time during the search; the chain of custody was broken; and PDEA agent Wenifredo Alagabia Jr. took bribe money from the accused in the amount of P500,000. Joel R. San Juan

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Agriculture/Commodities

Friday, October 26, 2018 • Editor: Jennifer A. Ng

BusinessMirror

www.businessmirror.com.ph

NFA palay purchases this year may reach 30,000 MT–Piñol

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE National Food Authority (NFA) expressed confidence that it will be able to buy more than a third of its palay procurement target of 82,000 metric tons (MT) this year after it offered additional incentives to farmers.

NFA Council (NFAC) Chairman and Agriculture Secretary Emmanuel F. Piñol said the state-run grains agency would be able to purchase at least 30,000 MT of palay, or about 36.59 percent, of its target. Piñol said this would be possible due to the additional incentive of P3 being offered to farmers who will sell their crop to the government.

“We are expecting that of the 82,000 MT targeted for procurement by this year, the NFA will be able to procure at least 30,000 MT despite the delay in the start of its massive and aggressive procurement program,” Piñol said in a recent interview with reporters.

“Henceforth, the NFA will focus its resources on local palay procurement.”

In less than two weeks after the additional incentives were approved by the NFAC, which effectively brought the NFA’s total buying price to P20.70 per kilogram (kg), the grains agency was able to purchase over 60,000 50-kgbags, or around 3,000 MT, according to NFA OICAdministrator Tomas R. Escarez.

Escarez noted that the NFA’s total palay procurement since the start of this year has reached around 160,000 50-kg bags, or about 8,000 MT. “Our field procurement right now

TOM SUMAIL (third from right, in green shirt), a farmer from Muricay, Pagadian City, sold 147 bags of his palay to the National Food Authority in Zamboanga del Sur. The government expects the NFA to procure as much as 30,000 metric tons of palay from farmers after it offered an additional P3/kilogram buffer stocking incentive. NFA PHOTO

is averaging more than 10,000 bags a day. And we are just starting the main crop,” he said in an interview.

“The big chunk of our procurement comes in the main harvest,

which is the last quarter of the year. We are now doing everything to purchase [palay from farmers],” Escarez added.

Escarez noted that rice harvest has peaked in some areas, such as Mindoro, Iloilo, Region 4, Region 6 and parts of Mindanao.

He added that the NFA is having a difficult time purchasing palay from farmers in Regions 1 to 3 as the offer of traders is high-

er than the support price of the rains agency.

“We are unable to buy palay from Northern Luzon because of higher prices. This was caused by the devastation brought by Typhoon Ompong,” he said.

Piñol said the NFA’s procurement program would safeguard farmers from the possible decline in the farm-gate price of palay due to the influx of rice imports by year-end.

PHL dairy imports up 12.64% in January-June–NDA report

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HILIPPINE dairy imports in the first half rose by 12.64 percent to 1.425 million metric tons in liquid milk equivalent (MMTLME), from last year’s 1.265 MMTLME, according to the National Dairy Authority (NDA).

The latest data from the NDA also showed that the value of imports in the January-to-June period expanded by 10.85 percent to P25.098 billion, from P22.641 billion.

“Milk powder constitutes the bulk of imports contributing 52 percent to the total milk and dairy products imports,” the NDA said in its Philippine Dairy Update report published recently.

“Skimmed milk powder comprised 30 percent, whey powder at 11 percent, whole milk powder at 4 percent and buttermilk powder at 7 percent of milk imports,” it added.

Imports of skimmed milk powder rose by nearly 5 percent to 614,940 MT-LME, from 586,330 MT-LME recorded in the January-to-June period of 2017.

Data from the NDA showed that the bulk of the country’s dairy imports came from the United States, which accounted for nearly 30 percent, followed by New Zealand.

Dairy imports from the US during the six-month period reached 426,710 MT-LME, valued at $99.54 million,

while those imported from the New Zealand reached 392,600 MT-LME. A Global Agricultural Information Network (GAIN) report earlier noted that cheaper international dairy products would encourage local traders to import more milk this year.

The GAIN report prepared by the United States Department of Agriculture Foreign Agricultural Service in Manila projected that the country’s total milk imports this year would rise by 8 percent to 2.7 MMT-LME, from last year’s 2.5 MMT-LME. Data from the NDA also showed that the country’s milk exports during the January-to-June period grew by 78.63 percent to 37,780 MT-LME, from last year’s 21,150 MT-LME. Total earnings from dairy exports rose by 25.54 percent to $14.99 million, from $11.94 million recorded revenue last year.

“Evaporated milk, ice drops and cream were the big export items during the period. On the other hand, skimmed milk powder, ice cream/ ice cream mixes, condensed milk and butter/butterfat recorded decrease in exports,” the NDA said.

“Malaysia and Singapore were the top market of Philippine dairy products, accounting for 23 percent and 20 percent respectively of the entire export value,” it added. Jasper Emmanuel Y. Arcalas

SRA sees sugar prices easing further due to imports

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HE Sugar Regulatory Administration (SRA) said it expects the retail price of sugar to further decline after it has allocated 149,950 metric tons (MT) of the total import volume it green lighted to traders and end-users.

The SRA, a government-owned and-controlled corporation attached to the Department of Agriculture, earlier allowed the importation of 150,000 MT of sugar to ease high food prices. Data from the SRA showed that 99.97 percent, or 149,950 MT, has been subscribed.

Of the volume that has been subscribed, 94.66 percent, or 141,950 MT is refined sugar while the remaining volume of 8,000 MT is raw sugar, SRA data showed.

Figures from the SRA also indicated that the bulk of imports were cornered by traders, who accounted for 70.61 percent, or some 105,875 MT, of the total import volume. Food and beverage (F&B) manufacturers would bring in a total of 44,075 MT of refined sugar.

Some of the F&B manufacturers that were given allocation include food giant Universal Rubina Corp.

(10,000 MT) and beverage makers Coca-Cola (8,250 MT) and Pepsi Cola (12,200 MT).

InterBev Philippines Inc., a subsidiary of Asia Brewery, would purchase 9,000 MT of imported refined sugar, while Nestlé Philippines would import 4,625 MT. Agriculture Secretary Emmanuel F. Piñol told the BusinessMirror that the allocation of the import volume is “good news” and could help bring down the price of sugar sold in local markets.

SRA Adminstrator Hermenegildo R. Serafica told the BusinessMirror that he sees the mill-gate price of sugar to settle at a level that would be “reasonable” for consumers and “profitable” for consumers.

“We also expect the retail market to go down to the level recorded before June. SRA price monitoring data for the past five years prior to June show that retail prices were maintained at P51 per kilogram to P55 per kg when mill-gate prices were at P1,700 [per 50-kg bag] to P1,900 [per 50-kg bag],” Serafica said in an interview.

“Unless greedy traders/distributors are manipulating the prices. Then SRA will have to get them investigated for economic sabotage,” he added.

Serafica noted that on the week the sugar importation was announced, the mill-gate price of sugar went down to an average of P1,631.68 per 50-kg bag, from an average of P2,003.6 per 50-kg bag in August.

The latest SRA data showed that total sugar output as of October 14 has reached 113,737 MT, 67.73 percent higher than the 67,810 MT recorded during the same period of last year.

Also, refined sugar output more than tripled to 56,229.3 MT, from last year’s 17,564.6 MT. Jasper Emmanuel Y. Arcalas

Mystery of missing US pigs, swine fever spark hog-price surge

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HERE’S a mystery unraveling in the hog market: call it the case of the missing pigs.

For weeks now, traders have been expecting slaughter rates in the United States to jump as the government has consistently reported a swelling domestic herd this year. Hurricane Florence hit North Carolina, one of the top hog states, in mid-September, slowing down processing operations.

But that bottleneck should have cleared by now, and analysts were

expecting a sudden rush of hogs to market. Instead, slaughter rates have stayed low, raising questions about whether the animals were ever really there, said Rich Nelson, chief strategist at Allendale Inc. in McHenry, Illinois.

The lower-than-expected US slaughter is coming at a time when a highly contagious, pigeradicating virus is spreading through China, the world’s top pork consumer. African swine fever continues to spread in the coun-

try, with several new outbreaks reported this week.

The combination of supply woes sent hog futures in Chicago up by the exchange limit of 3 cents on Wednesday to settle at 57.525 cents a pound. Prices have surged 11 percent this week.

“We don’t have this backup in market hogs like we expected,” Nelson said, adding that US Department of Agriculture estimates for rising animal inventories may have been miscalculated. Bloomberg News

A BusinessMirror Special Feature

www.businessmirror.com.ph

Friday, October 26, 2018

‘Outstanding’ Virtus Awards 2018 Winners Steer Hospitality Industry Toward Bright Future T

HE hospitality industry is in very good hands. Such was the sentiment of Jose “Jojo” Clemente, president of the Tourism Congress of the Philippines, after sitting as a judge of the recently concluded Virtus Awards, the year’s most prestigious event for hotel sales and marketing professionals.

“This year’s nominees were all outstanding and made our jobs as judges all the more daunting. Our selection probably won by a small margin as it was extremely difficult to put one candidate over the other,” said Clemente. “On that note, it also left me with a sense of assurance that the hospitality industry is in very good hands for the next few years with people of this caliber.”

Hosted by the Hotel Sales and Marketing Association of the Philippines, the Virtus recognizes the industry’s best through four award categories: Outstanding Sales and Marketing Associate; Outstanding Sales and Marketing Manager; Outstanding Sales and Marketing Leader; and Outstanding Marketing Campaign.

Careful scrutiny of individual nominees’ actual accomplishments/ achievements, customer orientation and business-specific knowledge, teamwork and interpersonal relationships, and commitment to continuing education led this year’s judges to choose these winners: Timothy Santos of Bellevue Hotels for Outstanding Sales and Marketing Associate; Mae Fatima Mationg of Makati Diamond Residences for Outstanding Sales and Marketing Manager; Francis David of Hyatt City of Dreams for Outstanding Sales and Marketing Leader.

FIRST row (from left) HSMA Chair Margie Munsayac, HSMA President Christine Ann Ibarreta, Oustanding Leader awardee Francis David, Outstanding Manager awardee Mae Fatima Lolita Mationg, Department of Tourism Undersecretary Benito Bengzon, Jr., Outstanding Marketing Campaign awardee Erwin Dona, Outstanding Associate Awardee Timothy Adrian Santos, Virtus Awards Chair Rose Libongco, Cebu Pacific Air Director for Corporate Communications Charo Lagamon, and Cebu Pacific Air Marketing Manager Jacqueline Gorospe. ROY DOMINGO

David, who admitted that he wasn’t used to receiving awards, said winning the Virtus would allow him “to advocate not just excellence in the field, but also to develop a culture of inclusion, creativity, humility, and care in the workplace. And these traits I think are very crucial in leadership.”

Santos said winning has helped him connect better with both his team and Bellevue’s management.

His success, he emphasized, isn’t just his own, but the whole industry’s.

“Succeeding doesn’t just mean I succeed in my own job, but in a bigger picture we succeed together as an industry when we push our potential and excel marketing tourism for our beautiful nation,” Santos said.

Mationg, who described herself as a newbie in the industry, said winning the Virtus inspired her to enhance her professional

knowledge in order to expand her career. “It is a great way for me to connect with the people that I look up to in this industry,” she added.

The lucky property that bagged the Outstanding Marketing Campaign of the Year is none other than Las Casas Filipinas de Acuzar, led by Erwin Dona, Director for Brand Marketing, and his team Jane Andres, Cezka EstradaColigado, Angelique Nebres

Sampayan, and Bryan Hosingco.

According to judge Alpha Gracias C. Allanigui, COO for Digital Publishing, United Neon Media Group, Las Casas was a standout among its competitors because of how its strategy of championing local heritage boosted business.

“I was looking for a campaign with a sound strategy, sustainability, and scalability. It had to be a campaign that can

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“wow” anyone. The winner for our category is a stand-out and passed my personal criteria apart from the qualifications set by the Virtus Awards,” said Allanigui.

Winners each brought home the much-coveted Virtus trophy, as well as a cash prize of P25,000.

Now on its fourth year, the Virtus Awards were established by HSMA Philippines after president Christine Ann Ibarreta heard of HSMA International’s Adrian Awards in the United States. From Ibarreta’s big dream of 10 categories, she and the association’s officers trimmed down the list to four—a list they hope to slowly expand in the coming years.

We were thinking of hosting the usual activities, such as trade shows, but we wanted to veer away from that,” said Margarita Munsayac, HSMA Philippines chair.

"We said, let’s do something that will recognize their excellence.”

The Virtus, added Munsayac, not only elevates the hotel sales and marketing profession but also motivates management to take care of their staff under this division, which in turn inspires sales and marketing professionals to become more passionate about their job.

“By igniting their passion, we hope to excite the market, deliver rigorous business, make our hearts beat a little faster, and, yes, shake our world,” said Rose Libongco, chair of the Virtus Awards and former HSMA president. “That we are able to launch and consistently deliver year on year is a feat we are immensely proud of and hope to accomplish till Virtus becomes a byword and the winners become synonymous with the mark of excellence.”

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Friday, October 26, 2018 • Editor: Angel R. Calso

The World BusinessMirror

Defense chief calls any challenge on Taiwan ‘extremely dangerous’ A

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Trade ministers discuss WTO reforms excluding China, US

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HINA’S defense minister warned that any effort to challenge its authority over Taiwan was “extremely dangerous,” following recent US moves that signaled greater support for the democratically run island.

General Wei Fenghe, the minister of national defense, made the remarks on Thursday at the start of a regional military forum in Beijing, in which he also called on American leaders to drop what he said was a “Cold War mentality.” His speech came just days after the US Navy sailed two warships through the Taiwan Strait, in the second such show of military support since July.

“Taiwan is China’s core interest,” Wei said. “On these issues, it’s extremely dangerous to challenge China’s bottom line repeatedly. If anyone tries to separate Taiwan

from China, China’s military will take action at all costs.”

Taiwan has reemerged as a flashpoint in US-China relations as their trade spat aggravates a host of security disputes between the two sides.

China has repeatedly protested US moves to bolster ties with Taiwan, amid a spat between Beijing and the island’s pro-independence government that took power after a 2016 election.

In recent months, the US has signaled a broader push back against China’s growing military reach in the region, with President Don-

ald Trump vowing to outspend it in an arms race after his decision to withdraw from an anti-missile treaty with Russia. The US has also criticized what it says are Chinese efforts to “militarize” outposts it has built on reclaimed land in the South China Sea, by building bases and deploying missile batteries.

Sea disputes

WEI, who met with US counterpart Secretary of Defense James Mattis at a regional security meeting on Friday in Singapore, said military facilities were needed to protect Chinese interests in the South China Sea. Destroyers from the two navies nearly collided in the area last month during a US “freedom-ofnavigation operation” to challenge what it says are illegal territorial claims by China and its neighbors.

“The South China Sea situation is stabilizing, which proves that all countries can take care of their own affairs,” Wei said. “China opposes countries that come to the South

China Sea from outside of the region in the name of freedom of navigation to show force and provoke, which leads to rising tensions.”

Wei is one of seven members of the Communist Party’s Central Military Commission, which is led by President Xi Jinping. He was speaking at the start of the Beijing Xiangshan Forum, China’s answer to the Western-dominated Shangri-la Dialogue held annually in Singapore.

The minister said China had no interest in engaging in an arms race.

He also denounced Trump administration claims that the Chinese government was attempting to meddle in the US midterm elections, saying the accusations had “severely damaged” ties.

“It has been proven that a hegemonic and confrontational security model is outdated,” Wei said. “The world shouldn’t repeat the Cold War. All countries should respect each other’s sovereignty, security and development rights.” Bloomberg News

Bomb threats highlight risk of violent political rhetoric

MAYOR Bill de Blasio looks on as Gov. Andrew Cuomo delivers remarks during a news conference after NYPD personnel removed an explosive device from Time Warner Center October 24, 2018, in New York. The US Secret Service says agents have intercepted packages containing “possible explosive devices” addressed to former President Barack Obama and Hillary Clinton. AP PHOTO/KEVIN HAGEN

N

EW YORK—The discovery of pipe bombs targeting prominent Democratic politicians and CNN is raising the threat of election-season violence largely unknown in the US—and prompting uncomfortable questions about the consequences of leaders’ increasingly vitriolic rhetoric.

Coming two weeks before midterm elections, the thwarted attacks on Wednesday caused renewed soul-searching—and finger pointing—about whether President Donald Trump has fanned passions to dangerous levels. Democrats swiftly pointed to his remarks seeming to condone violence against reporters and belittling political opponents, including some apparently targeted by the devices. Trump decried all political violence and issued a broad call for unity.

Some voters expressed concern the country was spiraling into new territory.

“It almost seems like we’re in the middle of a civil war without the shots being fired,” said Bobby Dietzel, a 45-year-old informationtechnology worker from Kansas City who is registered with neither party.

From a Denver coffee shop, he said he watched the political conflict with alarm. “It’s almost scary to talk politics with people.”

Law-enforcement officials did not comment on the possible motives behind the crimes or whether political ideology may have played a role.

Those involved have all been targeted

by Trump and the right.

The thwarted attacks—revealed in rapid succession on Wednesday—

added volatility to midterm elections poised to be a referendum on Trump’s tumultuous two years in office.

Long before the explosives were discovered, violent rhetoric had emerged as a central theme in the closing days of the midterm elections, particularly for the GOP. Republicans derided protesters for disrupting GOP lawmakers or Trump officials at restaurants or other public places. While campaigning, Trump and leading Republican candidates have increasingly warned of a rising Democratic “mob” prepared to inflict physical harm upon its adversaries.

But even some Trump allies saw the events of Wednesday as a moment for reflection and urged Trump to tone it down.

“You gotta calm it down,” said Anthony Scaramucci, a prominent Trump supporter who briefly worked in his administration. “The president has grown in the job. He now has to take another transcendental step and realize that he’s got to dial down the rhetoric.”

On the other end of the political spectrum, New York Mayor Bill de Blasio, a Democrat, offered a message to “all public officials of all partisan affiliations.” “Don’t encourage violence,” he said. “Don’t encourage hatred. Don’t encourage attacks on media.”

De Blasio added: “That has to start at the top.”

The White House’s political arm, the Republican National Committee, released a video less than two weeks ago entitled, “The Left: An Unhinged Mob” that featured liberal

protesters banging on doors backed by aggressive rhetoric from several prominent Democrats, including Rep. Maxine Waters of California and Hilary Clinton.

Waters in June called on supporters to harass Trump’s Cabinet members in public, while Clinton this month said: “You cannot be civil with a political party that wants to destroy what you stand for, what you care about.”

Clinton is among a handful of top Democrats, including former President Barack Obama and his Attorney General Eric Holder, who were targeted with explosive devices, authorities said on Wednesday.

The New York offices of CNN, the cable network frequently attacked

by Trump and his supporters, was evacuated after receiving an explosive device and an envelope containing white powder. Billionaire Democrat George Soros, a regular focus of conservative conspiracy theories, was targeted on Monday.

In a written statement, CNN President Jeff Zucker decried what he called “a total and complete lack of understanding at the White House about the seriousness of their continued attacks on the media.”

For a moment, at least, Trump offered a somewhat conciliatory message during a Wednesday evening political appearance in Wisconsin.

“There is one way to settle our agreements. It’s called peacefully at the ballot box,” Trump said while reading from the teleprompter. He later described Wisconsin’s Democratic Sen. Tammy Baldwin as a “radical farleft” socialist and said “our country is

assaulted” by a caravan of thousands of Latin American immigrants, still about 1,000 miles away.

The president is expected to continue an aggressive campaign schedule in the midterm season’s final days.

For virtually his entire political career, Trump has embraced inflammatory and often deeply personal attacks against his opponents. He repeatedly encouraged supporters to physically attack liberal protesters during the campaign, offering to pay for their legal bills. He regularly calls media outlets such as CNN “the enemy of the people.”

Yet, the rhetoric has sometimes turned darker in recent weeks.

“The Democrats are willing to do anything, to hurt anyone, to get the power they so desperately crave,” Trump declared at a Minnesota rally this month. “They want to resist, they want to obstruct, they want to delay, demolish. They want to destroy.”

He warned this week, without proof, that terrorists had infiltrated a caravan of Central American immigrants headed toward the US border. He also praised a Republican congressman from Montana for body slamming a reporter.

The Southern Poverty Law Center, which tracks hate crimes, believes there is no “moral equivalence” between the violent rhetoric of the two parties, according to Heidi Beirich, the head of the organization’s Intelligence Project.

“The fact of the matter is that the people who have received these bombs—the Clintons, Obama and George Soros—have been horrifically demonized by the right. Not just in terms of neo-Nazis, but also from people like Donald Trump,” Beirich said. “There tends to be a relationship between demonizing rhetoric and violence.”

Yet, Republican voters across the country are equally convinced that Democrats pose the real threat. And Republican candidates are going out of their way to reinforce that message.

At a weekend campaign appearance at a Florida retirement community, GOP gubernatorial candidate Ron DeSantis attacked Waters and Holder by name for calling on Democrats to harass Republicans. He also recalled the 2017 Capitol Hill shooting that left several wounded, including Republican Rep. Steve Scalise of Louisiana.

“We don’t want the state of Florida to be the petri dish of George Soros and the radical left,” DeSantis charged. “You look at the stuff that’s going on with these mobs and the violence that they’re doing.” AP

GROUP of global trade chiefs are meeting to start setting a reform agenda for the World Trade Organization (WTO), though it’s unclear how far they can take the effort with the US and China excluded from talks.

The discussions on Thursday in Ottawa aims to identify ways to modernize the global body that all—or at least most—of the WTO’s 164 members can agree to at some point in the future.

The trade gathering comes at a precarious moment for the WTO, which is struggling to contain an escalating trade war between the world’s two largest economies. In the past month, the European Union, China and the US have all advanced disputes at the WTO over new American metal tariffs, European retaliation and Chinese intellectual-property practices.

“We’re convening a very important meeting of a group of 12 countries that represent every continent—all of whom believe in a rules-based international trading system,” Canadian Trade Minister Jim Carr told reporters in Ottawa on Wednesday. “We begin from a group of nations who know that this system is better than no system, but we have to improve it. So we are having the first step of a larger conversation.”

Though neither the US nor China were invited to the meeting, President Donald Trump’s economic battle with Beijing and his criticism of the WTO has in large part sparked the conversation about improving the Geneva-based trade body.

Trump has threatened to withdraw from the WTO, repeatedly attacked the organization as being biased against US interests and is slowly strangling the appellate body, which mediates trade disputes that affect some of the world’s largest companies.

WTO Director General Roberto Azevedo will be among the list of high-level officials attending the Ottawa ministerial, along with European Trade Commissioner Cecilia Malmstrom and Mexican Economy Minister Ildefonso Guajardo.

“Without action to ease tensions and recommit to cooperation in trade, we could see serious harm done to the multilateral trading system,” Azevedo said in a speech last week.

Appellate body

THE top agenda item will be the WTO appellate body and exploring ways to ensure it won’t be paralyzed by the Trump administration.

Over the past year, the US has refused to consider any appellate body appointments because it says the forum’s current members have strayed from their original mandate. The three judges remaining are the bare minimum required to adjudicate appellate cases. The terms of two of the three expire in December 2019, which would leave the body paralyzed.

Trade ministers in Ottawa plan to address US concerns and consider whether WTO members can offer better guidance to the appellate body about how it should address specific issues.

The agenda for Thursday also includes a discussion of common goals for improving the three core areas of the WTO’s work—negotiation, dispute settlement and the implementation of WTO agreements. In addition, trade ministers will discuss ways to lighten the appellate body’s load by using alternative means of dispute adjudication and narrowing the scope of their dispute proceedings.

Participants expect the meeting to produce a joint communiqué, which could be considered at the Group of 20 leaders summit next month in Buenos Aires. Bloomberg News

Japan’s Abe heads to China vowing to lift ties to ‘new level’

J

A PA NE SE P r i me M i n i ster Shinzo Abe set off for Beijing on Thursday, seeking to further cement a recovery in relations with China that were wracked by a territorial dispute six years ago.

In the first such bilateral visit in seven years, Abe is first set to mark the 40th anniversary of a peace and friendship treaty alongside Premier Li Keqiang, while on Friday he is set to hold formal talks with both Li and President Xi Jinping. The trip takes place as Asia’s two largest economies come under pressure from US President Donald Trump over what he has called unfair trade practices.

Abe left Tokyo around 12:30 p.m. local time and was due to arrive in Beijing within three hours.

Abe’s foreign and trade ministers and a 500-strong business delegation will accompany him to Beijing to take part in a forum on economic cooperation in third countries.

As many as 50 deals are set to be

signed, including one on joint city development in Thailand, the Nikkei newspaper said on Thursday. Japan and China were also expected to agree to revive a currency swap arrangement that was dropped in 2013, and to jointly clamp down on market manipulation, the Yomiuri newspaper said.

Japan’s relations with its biggest trading partner turned hostile in 2012, when it nationalized part of a disputed East China Sea island chain, sparking sometimes violent protests and damaging business ties. Since taking office at the end of that year, Abe has consistently sought meetings with Chinese leaders, even as anger simmered over the territorial and other disputes.

“Japan and China have a great responsibility for the peace and prosperity of the region,” Abe told parliament the day before his visit.

“I will elevate ties to a new level.”

Bloomberg News

NATO Secretary-General Jens Stoltenberg talks to journalists during a news conference at the NATO headquarters in Brussels on October 24, 2018. Stoltenberg briefed reporters on alleged Russian breaches of the INF international missile agreement, and on the alliance’s military exercises in Norway, its biggest since the Cold War. AP PHOTO/FRANCISCO SECO

Nato’s biggest peacetime drill kicks off, angering Moscow

C

OPENHAGEN, Denmark— Nato’s biggest military maneuvers since the Cold War have started in Norway in a hypothetical scenario that involves restoring the Scandinavian country’s sovereignty after an attack by a “fictitious aggressor.”

Russia, which shares a border with Norway, was briefed by Nato on the Trident Juncture 2018 drill and invited to monitor it, but Moscow is still angered by the exercise. Russia’s

defense minister had warned that Moscow could be forced to respond to increased Nato activity near its western border. The wargames launched on Thursday bring together around 50,000 personnel from all 29 Nato allies, plus partners Finland and Sweden. Around 65 vessels, 150 aircraft and 10,000 vehicles will participate.

The drill, scheduled to end November 7, takes place in central and eastern Norway, the North Atlantic and the Baltic Sea. AP

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Editor: Dennis D. Estopace • Friday, October 26, 2018

Govt to continue Boracay rehab as cash aid to workers depleted

By Cai U. Ordinario @cuo_bm & Samuel P. Medenilla

G

@sam_medenilla

OVERNMENT economists are looking beyond the October 26 reopening of Boracay as the fund to help workers displaced with the April closure of island-resort has been depleted.

According to officials of the National Economic and Development Authority (Neda), efforts to rehabilitate Boracay as a primary tourist destination will continue beyond cleaning its waters and imposing activity restrictions on the beach.

In an interview, Neda Regional Development Office Undersecretary Adoracion M. Navarro told reporters the government and private sector will be investing in sewerage, sanitation and water projects for Boracay.

These will be contained in the Boracay Action Plan, which will be presented publicly after the official opening of the island to tourists today (Friday). Navarro

said there will be a separate launch of the BAP, which will include the Neda, the Department of Tourism and the Department of the Interior and Local Government, among others.

“So we are reopening, there are interventions done by the government, but those are not enough. So I think that is the main message,” Navarro said. “We still need to implement projects and programs that will rehabilitate the ecosystem of Boracay.”

Navarro said these investments will include the expansion of the services of Boracay Island Water Co. Inc. and Boracay Tubi Systems Inc., which are the concessionaires for these services on the island.

Themes

THE focus of these investments, Navarro said, will be to address the factors that led to the problems of the island, particularly the poor sewerage and sanitation facilities in Boracay.

“We also included investment programs for sewerage,” Navarro said, adding to clarify that the investment is not only for tourism, but “it’s really to rehabilitate the island, to make the island sustainable.”

Based on the BAP framework, the long-term vision of the government when it comes to Boracay is to make it a world-class tourism destination with a climate-resilient economy.

The aim is to anchor Boracay’s growth on “the sustainable development of its innate natural resources.” This will also help achieve the long-term societal goal for Boracay, which is to protect its inhabitants from risks and make them resilient to unfortunate events.

In the medium-term framework, there are four “theme outcomes” needed to be met: enforcement of laws and regulations, pollution control and prevention, rehabilitation and recovery of ecosystems, and sustainability of island activities.

The last theme means that infrastructure must be reliable, adequate, affordable, resilient and compliant with global stan-

dards and social services, such as health, education and housing must be responsive to the needs of the community.

This also means that economic activities, particularly livelihood and tourism, must be inclusive, socially equitable and sustainable.

Cash aid

THE revelation of the Neda’s plan came as Department of Labor and Employment (DOLE) on Thursday said it no longer has any additional funding to extend the period of its cash aid for displaced workers in Boracay for now.

According to the report of the DOLE Region 6, around 26 percent or over P328 million of the P445 million funding for the Boracay Emergency Employment Program-Adjustment Measures Program (BEEP AMP) has already been disbursed.

The amount was used to provide cash aid to 17,119 profiled workers, who were displaced with the threemonth closure of Boracay.

The DOLE’s Bureau of Local Employment Director Domique R. Tutay said they still have no final number of workers, who were re-employed or started a new livelihood because of the intervention.

But based from their initial report, some of the beneficiaries were employed abroad.

“It was successful in terms of uplifting the lives of affected workers, since it allowed them the means to provide for their daily needs,” Tutay said.

The remaining P119,903,170.55 of the BEEP AMP budget will be used to provide similar aid to 616 applicants.

Tutay said they are still evaluating the remaining 14,234 applications for their BEEP-AMP before requesting for additional funding for it.

The DOLE intensified its screening process for the BEEP AMP applicants after their numbers exceeded 17,735 profiled displaced workers in Boracay after it was closed to the public on April 26.

This led the agency to suspect some of the applicants are engaged in fraudulent activities.

Tutay said they may release the final tranche of the BEEP AMP by November.

Boracay was opened to the public on Friday after undergoing extensive environmental rehabilitation.

However, some of the establishments, which violated environmental regulations, were no longer allowed to reopen, leaving some workers permanently displaced even with the reopening of the island resort.

Tutay said they have yet to identify the total number of these jobless workers.

Authorities promote assistance to ex-NPAs L

UCENA CITY—Authorities announced here on Friday that some 3,009 former New People’s Army (NPA) rebels received various forms of assistance from several agencies through government’s Enhanced Comprehensive Local Integration Program, or E-Clip.

In a presentation at a forum for local chief executives, Philippine Army Maj. Aristotle Antonio said the E-Clip provides a convergence of government assistance to the former rebels, such as in security and safety, housing, skills and education, social and community, health, legal, livelihood and employment.

Quoting data from the Department of the Interior and Local Government (DILG), which administers the program, Antonio said a total of 655 former rebels have been provided with financial assistance, with Regions 11, 13 and 12 having the most number of rebels as recipients with 180, 150 and 144 rebel-recipients; followed

by Region 10 with 64; and Region 5 with 57. The Calabarzon region has 11 recipients, while Mimaropa and the National Capital Region have three rebel recipients each.

Antonio added that the National Housing Authority (NHA) has released Certificate of Entitlement to 685 former rebels in Region 9 while 958 have undergone Technical Education and Skills Development Authority skills training

ALLEGED guerrillas of the communist New People’s Army (NPA) stand at an undisclosed location in this undated photo. Authorities said former NPA rebels received government assistance after surrendering. BERNARD TESTA

nationwide. He said about 241 former NPA members have been given business starter kits in Davao Oriental through the Department of Labor and Employment Integrated Livelihood program.

Antonio said the Department of Social Welfare and Development

has provided transportation assistance to 33 former rebels, family food packs for 385 and psychosocial processing (stress debriefing) for five former NPA guerillas.

Antonio told participants that each former NPA rebel received P1 million worth of assistance

from the government.

“So the 241 rebels who surrendered to the government in Davao means P241 million has been allocated for them,” he noted.

Antonio said a halfway house has been built and successfully operated in Davao Oriental for

former rebels because of the support of the community. He added that the rebels who surrendered get staggered assistance from the government.

Antonio said the government has made available this year about 100 housing units for the former NPA guerillas. Each unit is worth P450,000. He added that the Office of the Presidential Adviser on the Peace Process (Opapp) has P8 billion funds for various community projects.

Under the program, the Department of National Defense administers E-Clip, while the DILG oversees the financial assistance.

The Opapp is in charge of the implementation of Pamana projects in communities, while the NHA is responsible for the provision of housing.

Under the old CLIP of the government, former rebels received access to reintegration assistance of P21,000, immediate assistance of P15,000 and livelihood assistance of P50,000. Under the EClip, former rebels are beneficiaries of government services, medical and legal assistance, housing, modified cash transfer, and loans and market access, among others.

E-Clip was formulated after President Duterte issued on September 2017 a directive to craft a concrete program for former NPA rebels. It was in July when the awarding of benefits under E-Clip followed. John Bello

A9

NBI arrests 6 in illegal Bulacan dump T

HE National Bureau of Investigation (NBI) on Thursday announced the arrest of six individuals who were behind the illegal operation of a 1-hectare open dump in Bustos, Bulacan.

The six are facing charges of violation of Republic Act 9003, otherwise known as the Ecological Solid Water Management Act of 2000, and R A 8550, or the Fisheries Code of the Philippines. They were identified as Jody Mendioro, Rodolfo Maniquis, Nestor Galves, Fernando Logronio, Juan Francisco Cruz and Cesar Ramirez.

The suspects have been presented for inquest proceedings before the Department of Justice for violation of Section 37 (use of open dump) and Section 48 (transportation and dumping in bulk of collected wastes) of R A 9003 and Section 107 (aquatic pollution) of R A 8550.

Prior to the arrest of the suspects, the NBI received a complaint with regard to the illegal operation of an open dump in Barangay Tanawan, Bustos, Bulacan.

The agency immediately conducted a surveillance of the area and was able to confirm the existence of an open dump.

NBI Director Dante Gierran said the agency was able to verify from the Department of Environment and Natural ResourcesEnvironmental Management Bureau Region 3(DENR-EMB 3) that maintaining an open dump is illegal and that no permit, licenses or grants has been issued to any individual or entity allowing such operation.

The suspects were caught by operatives of the NBI and DENR while openly dumping waste materials and supervising the actual operation of the dump.

Operatives were able to seize a backhoe loader, mini dump truck and a loading bin from the site.

The suspects, who were identified as job order employees of the municipality of Bustos, Bulacan, claimed that the municipality through the mayor is operating the open dump.

The NBI pointed out that the open dump poses risks to human health and aquatic resources, since it’s just adjacent to Bustos River.

Joel R. San Juan

A10 Friday, October 26, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

‘Anti-poor’ development

T

HE argument for a federal government is confusing. If the purpose is to give local government units (LGUs) more autonomy and responsibility, we should look at the Local Government Code enacted in 1991.

It reads in part: “It is hereby declared the policy of the State that the political subdivisions of the State shall enjoy genuine and meaningful local autonomy to enable them to attain their fullest development as self-reliant communities.”

That might be easier said than done, unless the LGUs have the tools.

But in addition to revenue sharing with the national government, LGUs “may negotiate and secure financial grants from local and foreign assistance agencies.”

Here is the most important part of the financials: “Any local government unit may create indebtedness, and avail of credit facilities to finance local infrastructure and other socioeconomic development projects subject to the rules and regulations of the Central Bank and the Securities and Exchange Commission.”

A community could build a passenger/freight terminal, issue revenue bonds to fund it and pay the loan from the income private companies would pay to use the facility. Some LGUs have done that but it is a drop in the ocean of the potential. If local governments are going to achieve “fullest development as self-reliant communities,” they must work with and have the support of the private sector.

Every development project has inherent risks. But nothing is ever accomplished if we wait for “risk-free.” LGUs must have the “political will,” the “political guts,” to proceed with calculated projects that come with risk.

The Makati City government has awarded listed firm IRC Properties Inc. the permit to construct and operate a $3.7-billion subway system that will move 700,000 passengers a day over an 11-kilometer line. IRC is partnering with several major Chinese firms to fund and build.

No public money will be used. All required national and local government rules, particularly in regard to the environment, must be followed.

Already, questions of viability are raised. However, no private company raises $3.7 billion without having done its homework. No investors are going to put up that kind of money without doing their homework.

Now comes the “anti-poor” argument. Are the “poor” going to be able to afford to ride the subway? Why isn’t the same question asked when a fast-food restaurant raises burger prices?

Development is always “anti-poor” before it becomes “pro-poor,” particularly in transportation. Every highway first required eliminating some “poor houses” and “poor businesses.” The national railway rehabilitation is anti-poor for relocating hundreds of thousands from the tracks. And when completed will create tens of thousands of jobs in the poorer southern areas.

There will be people relocated to make way for the Makati subway stations. But because of this, thousands of brand-new, affordable homes will be built that would never happen without this project.

Rice prices burden the poor. The answer is to allow the importation of as much “cheap” rice as possible. That is too simple a solution, so now we have rice “tariffication” for “unrestricted imports” but with a 35-percent tariff, which will fund “mass irrigation, warehousing and rice research.” Except, that will not lower the price of rice to the poor because it will not be cheap rice that is imported.

The Manila Light Rail Transit System Line was anti-poor. Adding another runway at the airport is anti-poor because of the areas affected.

Maybe the only pro-poor idea is riding atop a carabao on a dirt path.

What is genuinely anti-poor are governments without the political will to do what is best for the development of the community.

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SPOX

I

N 2012 the Commission on Elections ceased the production of voter identification cards, in anticipation of the creation of a National Identification System. Early discussions on the national ID indicated that it could be used as a voter ID. This potentially represented a radical change of Comelec philosophy from an earlier attempt to create a national ID, the Unified MultiPurpose ID or UMID. The UMID is a four-in-one identification card that Filipinos can use to transact with government agencies such as the Social Security System, Government Service Insurance System, PhilHealth and Pag-IBIG Fund.

Being a government-issued ID, the UMID is accepted as valid in practically all transactions. At the time of its creation, attempts were made to include the Comelec and its database of more than 40 million voters.

The Comelec demurred, however, averring correctly that its authority to gather private information was strictly limited to voter registration purposes. Consequently, the UMID was created without the Comelec and the voter ID dodged the obsolescence that had been predicted for it.

W hen the national ID was proposed in the late-2010s, therefore,

it did come as something of a surprise that its proponents were hinting at the new system replacing the voter ID. At that time, it remained unclear how this was to be achieved.

However, as no representations were made to enfold the Comelec database into the national ID database, and since the potential benefits of having just one universal ID card were significant, the decision was made to hedge against redundancy and simply suspend the issuance of voter IDs. With the recent emergence of the national ID law, two questions immediately arose: What is the relationship between the national ID system and the Comelec’s database of voter information? And will the national ID card, as expected, actually replace the Comelec voter ID? As it turns out, the answers seem to be

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“nothing,” and “no.”

To put it very simply, it now appears that the Comelec will only act as a registration point for persons wishing to be issued a national ID— only one of several, in fact. Early discussions indicate that data-capturing machines will be provided to the Comelec, to be used exclusively for national ID registration. This makes sense as the biometrics gathered by the national ID system are not the same as those gathered by the Comelec.

And while these machines will be located at Comelec offices nationwide, national ID personnel will man them. In other words, the Comelec database will not be used, and the Comelec will not be relieved of the responsibility of gathering the biometrics of persons wanting to register as voters.

Which brings us to the next question: Will the national ID replace the voter ID? Not in any significant way. The ID’s intrinsic limitations—such as that specifically provided for in Section 14, of RA 1105—severely limit its role as a “passport” for the services of other government agencies. Not to put too fine a point on it, it now appears that the national ID will simply be an additional form of government-issued ID, begging the question why do it at all?

It is quite possible—although I would be venturing into the realm of speculation here—that the true

value of the national ID is in how it can be integrated into future services. One possible application, for instance, is as an access point for special price-controlled retail outlets where individual registered users can be assigned a quota of cheaply priced commodities. And then, of course, there is the law-enforcement angle. With an established national ID system in place, a future where individual access to telecommunications services can be easily regulated, individual mobility recorded in minute detail, and fruits of criminal activity be denied to the criminal actors.

None of which, of course, the voter ID can do now anyway. So here’s another question: will the Comelec resume printing voter IDs? Or has that little blue card already irretrievably gone the way of dinosaurs? nnn

ON a final note: It didn’t take long for people to change their tune about premature campaigning. As soon as they had skin in the game, people who had been critical about early posters and campaign activities began promoting their own candidates with equal—and equally premature— zeal. In the process, they trot out their justifications and rationalizations, providing themselves a comfortable place to sit in. If nothing else, this tendency is probably the single biggest reason for the delay in plugging the loophole: people judge others by their actions, and themselves by their intent.

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Where’s my ID?

BETTER DAYS

‘G

LOBAL competitiveness” has long been an idea around which many countries, including the Philippines, have rallied their efforts for achieving economic development.

The thinking goes that if a country is more globally competitive, the more likely it will grow and prosper faster over time.

The most influential definition of global competitiveness is perhaps that of the World Economic Forum, espoused through its annual Global Competitiveness Report (GCR). For the WEF, global competitiveness is to possess a certain set of “institutions, policies and factors” that raise a country’s productivity, which, in turn, determines the level of prosperity achievable and the rates of return on investments made into the economy.

Our economic managers—from past administrations to the present—have used the GCR as a barometer for the government’s efforts,

often citing the Philippines’s gains in the report as a sign of continuous progress.

In fact, the Philippines has consistently improved on its competitiveness rankings. For the 2008-2009 GCR, we ranked 71st out of 134 countries. In the 2018-2019 edition released last week, we were 56th out of 140. Although methodology changes have been introduced over the years, it’s clear that we’ve improved and become more competitive—at least in the WEF’s terms.

Some, however, have pointed out problems with focusing on global competitiveness. For instance, Vaiva

Petryle from Vilnius University in Lithuania argued in a 2016 paper that there was a weak—if not nonexistent—relationship between a country’s GCR ranking and its GDP growth. A 2015 paper by researchers from the Gdansk University of Technology found that with the exception of some large economies like China, India, the United States and Russia, the GCR is not successful in predicting economic growth for up to 114 countries surveyed.

Where then could we anchor our attempts at sustaining our high economic growth and ensuring its inclusivity? At the 44th Philippine Business Conference organized by the Philippine Chamber of Commerce and Industry (PCCI), I suggested that we tackle that challenge through the perspective of “economic complexity,” described by Professor Ricardo Hausmann of the Kennedy School of Government and Professor Cesar A. Hidalgo of MIT. In a 2011 study, Hausmann and Hidalgo found that a given area—a municipality, a city or an entire country—becomes prosperous when it produces and trades a diverse array of goods and services that are complex and uncommon (i.e. not produced by

many countries). They then argued that economic complexity was a better predictor of future economic growth and development.

One can gauge the economic complexity of a given product based on the “personbytes”—or the amount and diversity of know-how, talents or skills—needed to produce said product. For instance, a coconut would need fewer personbytes to be produced, compared to x-ray machines, cargo ships, airplanes or satellites. Where only one person is needed to plant, maintain and harvest the coconut tree, hundreds—if not thousands—are needed to produce and export x-ray machines, cargo ships, airplanes or satellites.

Hausmann and Hidalgo’s assertions may sound obvious. But they also demonstrated that economic complexity does not always correlate with wealth and prosperity—suggesting that a country with a sophisticated economy may not necessarily realize the full potential of this complexity.

According to their 2016 Atlas of Economic Complexity, the Philippines ranked 30th out of 127 (a jump of 36 places since 2000), making us See “Angara,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Musings on economic growth and the Nobel

Confession of a reluctant tourist Tito Genova Valiente

ANNOTATIONS

Dino Carlo A. Saplala

EAGLE WATCH

T

HIS year’s Nobel Prize in the Economic Sciences once again focuses on the long run question of how economies grow.

On October 8 Paul Romer (New York University) and William Nordhaus (Yale University) were awarded for their work on integrating the roles of “technological innovations and climate change,” respectively, with analyzing economic growth. This article is an overview of their works, as well as other related literature on economic growth.

Romer’s work can be compared to another Nobel winner, Robert Solow, who was awarded the Nobel Prize in Economics in 1987 for the neoclassical growth theory. In Solow’s work, it is predicted that growth is caused by an increase in total factor productivity, which can be defined as the proportion of growth caused after accounting for exogenous factors such as an increased savings rate, decreased population growth and increased capital accumulation.

Solow’s model implies that because there are diminishing returns to capital, countries can grow in the long run only through total factor productivity (also known as technological progress). The assumption of diminishing returns to capital also implies that poorer countries can catch up with more developed countries if they have the same level of technological progress and if population growth is slower.

Romer’s work on the endogenous growth theory further explains the role and determinants of technological progress using some different assumptions. One version of this model suggests that technology is related to the number of people involved in the research and development sector. This suggests that capital accumulation can also be interpreted as increases in human and knowledge capital, which do not necessarily have diminishing returns. Technology can be assumed to be a nonrival good because knowledge capital can be shared by all once it is developed.

This implies that population growth can be beneficial for a country if the level of human capital increases along with the population growth.

Nordhaus’s work is under the field of environmental economics, where he developed “integrated assessment models” of climate and economic activity. These models allow for an examination of the relationship between climate activities, such as emissions and economic activities (particularly growth). In addition, the impact of policies related to climate change can be examined using these models.

Aside from the works of these Nobel Prize-winning economists, advances in econometrics have allowed for an empirical examination of the determinants of economic growth and the relationships between these variables in specific countries. In particular, many researchers have made use of cointegration methods such as the bounds test developed by econometricians M. Hashem Pesaran, Yongcheol Shin and Richard J. Smith to test the long-run relationships between growth and

Angara. . .

continued from A10

the fourth most complex economy in Asean—behind Thailand (#27), Malaysia (#22) and Singapore (#5).

We already export products in up to 60 categories—with ICT services and electronic integrated circuit, which are fairly complex products, being our main offerings.

But in terms of the growth potential based on economic complexity, we ranked 11th in the entire world.

That is to say, we can potentially export more and expand our base for growth if we find new synergies

related sectors such as the trade and financial sectors. In addition, tests developed by econometricians such as Clive Granger (another Economics Nobel winner) and the Japanese economists Hiro Toda and Taku Yamamoto have allowed for the examination of causalities between these variables.

Theory suggests that the financial and trade sectors have a relationship with economic growth. For example, Ross Levine suggested that one view of the finance-growth relationship is that finance supports growth because the availability of financial services helps in capital accumulation and improvements in technology. Similarly, trade can help growth through the facilitation of technology transfer, capital accumulation and FDI inflows. However, another view suggests that financial services arise as a result of growth.

For example, this may come as a result of the need of businesses to expand. These arguments suggest that there may be a triangular relationship between finance, trade and growth at the same time.

The Australian-based and Pakistani researchers Mohammad Rahman, Muhammad Shahbaz and Abdul Farooq attempted to test this proposed relationship between economic growth, trade and finance empirically in the case of Australia using the methods by Pesaran, Shin and Smith (2001) and Granger. They found that there was a long run relationship between economic growth, international trade, and financial development in Australia. Furthermore, they inferred that trade and growth have a bidirectional relationship and that financial development leads to both growth and trade in Australia. Therefore, policy-makers have the incentive to push for financial development because it can stimulate growth directly and stimulate growth through further trade activity.

As can be seen from all these works, the study of economic growth can be approached from multiple angles and is not yet completely settled. A common theme that results is how these works provide guidance for policy-makers regarding what variable or sector to focus on as they continue to pursue the goal of economic growth. Although not necessarily the end goal, growth, after all, remains one of the starting points toward a pursuit of improved standards of living.

Dino Carlo A. Saplala is a lecturer of economics at Ateneo de Manila University.

between the industries and services that we already have to come up with new, more complex and non-ubiquitous products.

Of course, this isn’t to say that we should abandon the rubric of “global competitiveness” as outlined by the WEF. But our efforts at pushing our economy would definitely gain some nuance—and even better success— if we consider “complexity” one of our economic goals.

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

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

Friday, October 26, 2018 A11

T

HE breeze is a wild kiss on my face. The sun seems to be hiding forever behind the low-flying clouds. There are birds on trees whose crown I could touch. Tiny birds with heads smaller than my thumb dart around. As I am not a flying animal, man has fortunately set up a tall building with a terrace aimed to be way taller than the tallest coconut trees and the oldest santol tree on this sloping mound. Here I am perched on the highest peak man can make at least in this place in Coron.

This is my idea of vacation: To sit idly and stare into the coves and the nearby islands and wish there are no people behind those old shrubs and small forests. I am doing that now —just looking out, not even thinking, but taking in all the variants of greens and blues and grays.

Is that an old yacht hidden behind the tall trees? Those hills—why are the foliages gathered around their lower base? Is the wind so strong around here that plants on top are always blown away? A small boat plunges through banana trees, the heart blooming from these plants shaking as the vessel moves through a sliver of a sea and back into the wider, open expanse of the cove.

Do these small bodies of water become de-facto rivers?

We can ask many questions about the Sea, of Nature and even Life when we are doing nothing.

I am doing that: I am asking questions that I would not have asked if I had toured the island. I would be moving around. The tour says, island-hopping. But why should I hop from island to island when I can marvel at an island and its existence by not moving, by not hopping.

Behind my room are clumps of bushes and bamboo groves. A few meters from them, there is already the sea. Imagine the sea in your backyard.

Then imagine the hotel and all the resorts in this Coron. Where do the wastes go? Who gets all the money

when in they come?

Two nights ago, we all went to the town. We were looking for the public market, which serves for city boys and girls as indicators of activities and cultures of the place. The huge tricycle deposited us in front of the plaza with the fountain.

We wa l ked away from the fountain but we were getting nowhere. The signage showed us where the public market was.

The road was dusty at first, then muddy. It got slimy and the air became putrid. We turned around and went back to the direction of the fountain. It had started to spew the whitest of water. Tricycles and motorcycle buzzed around us. There seemed to be no traffic rules. There were no traffic signs. We were relying on something organic and cosmological to guide us through the disorder. We were also hoping that the sense of universal order could be present as well in the souls of the drivers wheezing and wheeling through our paths.

There were small buildings all over; construction was happening at the same time. The street corners were not clear and the demarcation of pedestrian lanes from those

intended for devices with wheels could not be apprehended by our mind. We stretched our arms as we crossed. We were children afraid and unafraid.

There was no enticement in our surroundings, no seduction available, no enchantment possible.

At that point, the tourist in me started to kick in. It was the only way to survive the haze of disorder and absence of concord in the air.

What is the point of all this?

Where is beauty in this unattractive chaos? Perhaps, I am much too Filipino to be charmed by the putative purity of the simple and simplistic.

Do tourists find any sense of piquant loveliness in this bare area? Or, do we sell poverty?

This is my problem: I can never be a tourist. When I look at the world outside, there is always the theoretical underpinning that would bore another but would solve for me the environment.

When I pass by cafes and stores, the notional and the constructs alleviate my anxiety. Not exactly the armour or the amour a tourist urges.

Is Coron really keen to be a tourist site? Why is there no planning, it seems, in the enterprise of this town, this island?

One can say this of the entire island—the Philippines—we are selling as tourist destinations. If we are to gauge the symmetries of the destination, do not believe in that inspirational line, which says it is

The Church is an ally of the government Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

“None of us should be looking out for our own interests, but for the interests of others.”—1 Corinthians 10:24

W

EALTH and power are the two major factors in our society that has a great impact in our daily lives. We are living in a world where these two factors remain unbalanced. Our Lord Jesus Christ is our God of justice who wants us to make a huge difference in the world by means of standing up for those who suffer, and sharing our hands to help them stand up for themselves.

The Lord has told us to do “what is good and what is just, to show constant love, and to live in humble fellowship with our God.” (Micah 6:8)

As what Manila Archbishop Luis Antonio Cardinal Tagle, DD said, “charity is, above all, to be exercised in our dealings with our neighbors”

as it is part of our Christian mission to offer ourselves to God through generosity.

Recognizing the growing rate of poverty in our country, we at Radio Veritas are extending our effort to support our government in helping the poor by inviting Vice President Leni Robredo to discuss her various advocacies and programs for the poor in our public affairs program “Veritasan” from 11 a.m. to 12 noon on Saturday, October 27, 2018.

This move is also in accordance with the declaration of Davao Archbishop Romullo Valles, DD, that “the Church has always been and will always be a partner of government [especially in the LGUs and barangays] in countless endeavors for the common good, especially in addressing the needs of the most disadvantaged sectors of society.”

Through this program, we will be

the journey that matters. That is a sordid excuse no tourism program should use. What matters is the entry point—the airport.

As the tale went, we all started from Terminal 4. Terminal 4, of course, is terminal: nothing should proceed from that origin, unless you are sending home cargoes and cattles.

And yet Coron has might. Coron is hiding its power somewhere. I am sensing some of it now. Looking out into those glorious coves again, I can see the shape of the island, how its mound rises from the depth. One can only witness shapes of sea-rounded lands when they are mapped. In Coron, the mind and, if you allow it, the heart can map the islands and the trees and the depth. The place enables you to remember what kind of ground was kept and respected when the hotel you are in now was built, what forests were decimated when roads were shaped.

Coron is about memory of the ancientness, of times when people came and gathered crabs and looked at old, huge trees, and when the land owned men and women, and the seas did not matter much because life was as regular as breathing.

Coron is about strangers and outsiders who became tourists and of islets that welcomed them because there was nothing else to do.

This is not PR but Asia Grand View Hotel, where I stayed, did provide a grand view of the islands and the cove and all the covered enchantment. Thank you for allowing me to think, do nothing, think again, and write all these thoughts about the things we lose and recover all in the name of this new thing called “Tourism.” The food was terrific all throughout; the staff were kind, generous and well-mannered. For all the lack of infrastructure, Coron’s jewels are in its people.

E-mail: titovaliente@yahoo.com.

able to give hope to our brothers and sisters who are suffering and in need of grace from God. It is also part of our mission in building a community of faith and charity for those who are looking for a brighter future.

My dear brothers and sisters in Christ, let us all “learn to do right.

See that justice is done—help those who are oppressed, give orphans their rights, and defend widows.”

(Isaiah 1:17) So that the Almighty Father will bless us for “whoever is kind to the poor lends to the Lord, and he will reward them for what they have done.” (Proverbs 19:17) To know more about Caritas Manila, visit www.caritasmanila.org.ph. For your donations, call our DonorCare lines 563-9311, 564-0205, 0999-7943455, 0905-4285001 and 0929-8343857.

Make it a habit to listen to Radio Veritas 846 in the AM band, or through live streaming at www.veritas846.ph. For comments, e-mail veritas846pr@ gmail.com.

Hyundai earnings shock shows need for direction

By Anjani Trivedi Bloomberg Opinion

W

E knew the global auto industry was struggling, but is it this bad?

Hyundai Motor Co. announced on Thursday an almost 67-percent drop in net income, saying one-time recall costs to address quality issues were chiefly to blame. There’s a deeper problem, though.

Nobody was prepared for the result, and investors fled, pushing the stock down as much as 10.7 percent. Fair enough, sales are slow in the US and China markets. But they’re not that dismal.

A glance through earlier earnings

reports shows that Hyundai hasn’t been able to manage those key markets for a while now.

They drove the decline in firsthalf sales, alongside weakness in the South Korean home market and in emerging Europe. A 30-percent drop in US revenue was the steepest for any region.

In September Hyundai’s wholesale unit sales in the US and Canada fell 18 percent year-onyear and were down 7 percent in the 12 months through September. The broader US vehicle market, now dominated by SUVs, grew 0.3 percent in the year through September.

Recall costs just exacerbated

Recall costs just exacerbated the pain. They amounted to about 500 billion won ($440 million) in the third quarter. Earlier this month, an American nonprofit group said the company should check 2.9 million older vehicles sold by Hyundai and its affiliate Kia Motors Corp. in the US following widespread reports of fires. Earlier this month, Hyundai recalled more than 28,000 vehicles in Russia.

the pain. They amounted to about 500 billion won ($440 million) in the

third quarter. Earlier this month, an American nonprofit group said the company should check 2.9 million older vehicles sold by Hyundai and its affiliate Kia Motors Corp. in the US following widespread reports of fires. Earlier this month, Hyundai recalled more than 28,000 vehicles in Russia.

Hyundai says it will devote “allout efforts” to improving sales in China. That push may be a little late now, and might have to be more nuanced: Just churning out SUVs and older models with facelifts won’t cut it. Competition there is now a lot tougher.

Unfortunately for Hyundai the strategy, not the market, is to blame.

www.businessmirror.com.ph

BusinessMirror Special Feature

Friday, October 26, 2018 A12

Companies BusinessMirror

Editor: Efleda P. Campos

URC income plunges 17% to ₧6.97B in Q3 U

By VG Cabuag

@villygc

NIVERSAL Robina Corp.

(URC), the food group of the Gokongwei family, on Thursday said its net income fell 17 percent on flat sales and foreign-exchange losses due to the weaker peso.

The company said its profits for the nine-month period ending September reached P6.97 billion, down from P8.4 billion last year. For the third quarter alone, its income was flat at P1.9 billion.

“The environment remains very challenging with macroeconomic pressures, especially in the Philippines. The weaker peso and inflation continue to affect our conversion and operating costs, thus margins are continuously affected.

We will be proactive and look for opportunities to manage our portfolio better and implement plans and programs to mitigate the effects to our top line and bottom line in the near term,” said Irwin Lee, the company’s president and CEO. Net sales for the first nine months of the year hit P95.5 billion, a meager 3-percent increase from last year’s P92.41 billion. Sales for the third quarter alone fell 1 percent to P31.15 billion, from P31.6 billion last year.

Recovery in branded consumer foods (BCF) group in the Philippines and Vietnam was partly offset by weaker New Zealand trading and the shift in timing on sugar sales.

Operating income showed good improvement in the third quarter, posting a 5-percent growth driven by the impact of selling-price increases in BCF in the Philippines, continuous recovery in Vietnam and effective cost management.

Sales of domestic and international branded consumer food reached P25.8 billion in the third quarter, flat versus last year.

As a result, income from the group grew a mere 2 percent to P76.2 billion. Domestic revenues comprised P14.7 billion, an increase by 2 percent in the third quarter, while January to September showed a decline of 1 percent to P43.4 billion.

Growth in the third quarter was driven by snack foods and noodles while decline for the quarter was seen in beverages.

Its sales overseas in the third quarter declined by 2 percent as Vietnam recovered and the contributions of Australia were offset by the weaker performance of Thailand exports and slower recovery of New Zealand from price increases that improved margins.

The sales of the agro-industrial and commodities group amounted to P18.2 billion, a 10-percent increase versus last year, driven by higher volumes in flour and feeds, as well as higher selling prices of hogs.

“For the balance of the year, URC will continue to fast-track transformation programs in the business that will have a longerterm impact like improvements in distribution and supply-chain capabilities. These programs will enable the organization to execute better starting in 2019 with the objective of bringing back the business to growth in a more sustainable manner,” the company said.

Eternal Gardens breaks ground for 11th branch in Cabuyao City

I

N line with its continued thrust for expansion, Eternal Gardens celebrated the groundbreaking of its 11th branch in Barangay Mamatid, Cabuyao City, Laguna, on October 23.

House Speaker Gloria Macapagal-Arroyo was the guest of honor at the event, which was attended by local government officials, including Cabuyao City Mayor Rommel Gecolea and Laguna Second District Rep. Joaquin M. Chipeco Jr. In her special message, Arroyo congratulated the management of Eternal Gardens on its latest project, and thanked them, particularly D. Edgard A. Cabangon, its chairman and CEO; and T. Anthony C. Cabangon, director, for continuing the work of their late father, Eternal Gardens founder Ambassador Antonio L. Cabangon Chua.

“Salamat, Edgard and Anthony, hindi lamang sa ginagawa ninyo dito [sa Eternal Gardens], kundi dahil sigurado akong ginagawa ninyo ito bilang pag-alaala sa napakabait ninyong ama na si Ambassador Cabangon Chua,” she said.

Arroyo recalled working with the Ambassador in serving the country during her time as president of the country.

“Si Ambassador Cabangon Chua ay aking ambassador sa Laos, at matagal na matagal nang nagtutulungan kami sa paglilingkod sa ating bansa,” she said.

In closing, Arroyo commended the company for taking part in ensuring the progress of the city.

“Tayong lahat, pati na rin si late Ambassador Tony Cabangon Chua, tayong lahat ay magkasama dito sa

HOUSE Speaker Gloria Macapagal-Arroyo and D. Edgard A. Cabangon (to her left), chairman and CEO of Eternal Gardens, lead the burying of a time capsule during the groundbreaking ceremonies of Eternal Gardens in Cabuyao City, Laguna. They are joined by other company executives and local government officials. At left is former First Gentleman Jose Miguel T. Arroyo and at right is T. Anthony C. Cabangon, company director.

kaunlaran ng Cabuyao, ng Laguna, ng Southern Tagalog, ng buong Pilipinas, at napakalaking bagay itong ating Eternal Gardens dito, serbisyo sa mamamayan ng Cabuyao at mga karatig-bayan. Kaya sa inyong lahat, congratulations!” she finished.

For his part, Edgard Cabangon thanked Speaker Arroyo and everyone present for gracing the occasion despite their busy schedules. Likewise, he thanked Mayor Gecolea, who was his classmate in the University of Santo Tomas Faculty of Civil Law,

for his invitation to open an Eternal Gardens park in the city of Cabuyao.

“Hindi ito magiging posible if not through the invitation of our good mayor here. Maraming salamat! The least we can do to show our gratitude and appreciation is to offer a quality memorial park, as well as to provide good memorial services,” he said. Later on, he also expressed his gratitude to Arroyo for being a great friend to his late father.

“Thank you for loving our dad,” he said.

Eternal Gardens Cabuyao was designed by RDB Tecson and Associates, headed by Architect Rafael B. Tecson. Architect Lerma Balolong designed the chapel and mortuary to be built in the park.

The event started with a thanksgiving Mass, followed by the groundbreaking ceremony where a time capsule containing the plan for the new memorial park was buried in the ground and a short program. The guests shared a sumptuous lunch right after.

SMFB cuts size, price of follow-on offering

S

AN Miguel Food and Beverage Inc. (SMFB) significantly cut the size and price of its follow-on offering.

In its disclosure, the combined food and beverage company of conglomerate San Miguel Corp. said it would only sell 400.94 million common shares, with an over-allotment option of 60.14 million shares at P85 per share.

The company will only raise P39.19 billion, or less than a third of the P139.86 billion proceeds that it first announced. The company originally planned to sell 1.02 billion worth of secondary shares at P140 apiece. SMFB, however, needed the said offering as it already falls below the minimum public ownership rule of at least 10 percent. Its public float currently stands at

4.12 percent.

San Miguel consolidated its food and beverage businesses by transferring all its equity in Ginebra San Miguel Inc. and San Miguel Brewery Inc. to San Miguel Pure Foods Co. in exchange for shares. It then renamed Pure Foods into its current name.

As part of the share swap, Pure Foods

increased its authorized capital so it will have more shares to issue to San Miguel in exchange for shares of Ginebra and SMB. BDO Capital and Investment Corp. and BPI Capital Corp. were picked as the local lead underwriters, and Deutsche Bank AG Hong Kong Branch and Goldman Sachs (Singapore) Pte. were picked as joint book runners. VG Cabuag

Friday, October 26, 2018

B1

Grab, Mastercard partner; eye PHL fintech dominance

By Lorenz S. Marasigan @lorenzmarasigan

G

RAB is concretizing its intention of entering and dominating the Philippine financial technology (fintech) market with its regional partnership with Mastercard.

With this deal with Mastercard, Grab will soon be able to issue both virtual and physical prepaid cards directly from its mobile application.

Both cards may be used for ridehailing, food and parcel delivery, and other transactions.

Reuben Lai, senior managing director of Grab Financial, said his app’s scale across Southeast Asia will enable the prepaid card to be ubiquitous from its launch.

Topping up, he added, will be done

through Grab drivers, agents, and merchants.

“Not only does this solidify Grab’s position as Southeast Asia’s undisputed fintech leader but it also enables the region’s 400 million unbanked and underserved consumers to buy goods and services online,” he said.

Another feature of the mobile wallet is that it allows users to reload different currencies on their cards and “save on exorbitant transaction and exchange fees.”

Grab is looking at tapping the huge potential of the Philippines in terms of financial tools. Data from the central bank showed that 7 in 10 Filipinos do not have bank accounts.

The cards are expected to be commercially available in the Philippines by the first half of 2019.

Goodyear eyes ‘double-digit’ growth in PHL

By Roderick L. Abad

@rodrik_28

Contributor

A

MID the impact of the Tax Reform for Acceleration and Inclusion (TRAIN) law on car taxation, tire manufacturer Goodyear remains bullish on registering a “double-digit” growth in terms of sales in the Philippines this year at pace with the robust performance of the entire automotive industry.

“We’ve seen the tire industry growing by 12 percent CAGR [compounded annual growth rate] for the past five years,” Goodyear Philippines Inc. (GPI) Market Director Kenneth Sambajon told reporters during their media briefing in Pasig City on Thursday.

He said the size of the local tire market is at 2.4 million, based on the number of registered vehicles in the Land Transportation Office to date.

“That’s on the consumer segments, excluding trucks, buses and others,” Sambajon said, citing that replacement rate is between three years and five years. “In terms of the segment that is growing, it’s actually the SUVs [sport-utility vehicles].” This vehicle type, which accounts for 30 percent of the total automotive sector, has seen tremendous patronage on the back of a strong demand for bigger fourwheel cars mainly due to road con-

dition and flooding issues.

“Because of this tremendous growth in the automotive industry, it replicates on the tire replacement industry, which we play on that arena,” noted Saul Aurelius Isidore C. Babas, marketing head at GPI. Goodyear is ranked as the No. 1 brand in Metro Manila and National Capital Region by the GfK, with a 41-percent market share as of August 2018.

“So I’m happy with the results because this is an independent agency, who conducted the audit for the industry,” he said.

Marking its 120 years of operations globally, Goodyear is now gearing up for next year as it celebrates its 100 years in the Philippines.

Continuing its legacy of innovation, GPI recently launched its breakthrough Assurance TripleMax 2 tires, enhanced to deliver better performance specifically in its wet braking, handling, comfort and assistance.

To continue serving its customers, the company is committed toward expansion of its retail footprint nationwide with 100 Goodyear Autocare outlets to date.

It is also focused on improving its after-sales service through continuous certification programs to its technicians, state-of-the-art facilities and an enhanced overall customer experience.

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Companies BusinessMirror

Friday, October 26, 2018

PSE STOCK QUOTATIONS

October 25, 2018

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

ASIA UNITED 58.2 58.5 58.5 58.5 58.2 58.5 3550 207660 58500 BDO UNIBANK 114.3 115 118 118 113.1 115 2377240 272831080 -127920209 BANK PH ISLANDS 81 81.35 82.35 82.35 81 81.35 1695530 137567555.5 -99318602.5 CHINABANK 27.95 28.15 28.25 28.25 27.95 27.95 186400 5221635 2960 EAST WEST BANK 11.42 11.46 11.7 11.7 11.38 11.42 918400 10536404 -893810 METROBANK 65.05 65.3 66 66 64.3 65.3 2800310 182054577 -104509539 PHIL NATL BANK 40.7 40.8 41.35 41.35 40.8 40.8 24000 981060 -730860 PSBANK 72.05 76.15 71.3 71.3 71.3 71.3 10 713 PHILTRUST 104.6 108.9 105.2 105.2 104.1 104.1 540 56258 RCBC 28 28.5 27.8 28.85 27.8 28.5 19300 541780 SECURITY BANK 137.5 137.7 144 144 137.5 137.5 1144160 159186057 -43934835 UNION BANK 65.9 66.2 65.9 65.9 65.9 65.9 3000 197700 -54038 BRIGHT KINDLE 1.33 1.43 1.33 1.4 1.33 1.4 24000 32900 31500 BDO LEASING 2.25 2.43 2.43 2.43 2.43 2.43 10000 24300 COL FINANCIAL 15.14 15.8 15.8 15.8 15.8 15.8 300 4740 FERRONOUX HLDG 3.91 4.05 4.12 4.12 3.91 4.1 4000 16040 MEDCO HLDG 0.465 0.48 0.485 0.485 0.465 0.465 180000 85100 NTL REINSURANCE 0.86 0.87 0.9 0.91 0.86 0.87 131000 117050 -53300 PHIL STOCK EXCH 185.1 190 188.4 190 185 190 2260 418995 139390

INDUSTRIAL ALSONS CONS 1.25 1.27 1.27 1.27 1.27 1.27 12000 15240 ABOITIZ POWER 32.6 33 33.7 33.7 32.5 33 566100 18614690 -12226545 BASIC ENERGY 0.21 0.22 0.22 0.22 0.209 0.22 570000 120100 ENERGY DEVT 6.8 6.95 7.3 7.3 6.95 6.95 31300 221465 -105712 FIRST GEN 15.98 16 16.18 16.22 15.98 16 235400 3767462 -669372 FIRST PHIL HLDG 63.75 64.4 64.4 64.5 63.75 63.75 22510 1442160.5 305648.5 PHIL H2O 4.5 4.65 4.52 4.76 4.46 4.76 56000 253640 -18600 MERALCO 351.8 352 351 353 346.8 352 135980 47612636 7111896 MANILA WATER 25 25.3 25 25.4 25 25 65800 1652510 -103965 PETRON 8.14 8.2 8.2 8.2 8.13 8.2 812400 6,626,644( 2,057,881.9998) PETROENERGY 4.06 4.24 4.12 4.12 4.11 4.11 14000 57550 PHINMA ENERGY 0.95 0.96 0.99 0.99 0.96 0.96 747000 725620 -8910 PHX PETROLEUM 10.42 10.7 10.76 10.8 10.38 10.72 301700 3181542 PILIPINAS SHELL 48.5 48.8 49.5 49.5 48.5 48.5 509400 24769530 -23178910 SPC POWER 5.19 5.2 5.2 5.2 5.18 5.2 55400 287286 15600 AGRINURTURE 17.96 18 18 18.1 17.88 18.1 1412600 25470262 12860492 CNTRL AZUCARERA 16.24 17 16.2 17 16.16 17 1400 22908 CENTURY FOOD 13.24 13.28 13.22 13.3 13.22 13.22 606300 8015524 -16096 DEL MONTE 6.7 7 6.8 7 6.79 7 2200 15054 DNL INDUS 10.88 10.9 10.9 10.9 10.76 10.88 2556100 27735522 10841534 EMPERADOR 6.99 7 6.9 7 6.85 6.99 546700 3809009 -1782346 SMC FOODANDBEV 82.55 83 83 83 82 83 1360280 112,509,394( 63,317,168.5001) ALLIANCE SELECT 0.91 0.92 0.97 0.97 0.91 0.91 7458000 6967980 -140590 GINEBRA 23.5 24.5 24.3 24.5 23.8 24.5 16500 398420 JOLLIBEE 260 262 261.6 262 255 262 469150 121399176 -23358646 MAXS GROUP 11.28 11.3 11.6 11.6 11.14 11.3 98900 1118134 -193390 MG HLDG 0.173 0.18 0.172 0.173 0.172 0.173 520000 89940 -1729.9999 PEPSI COLA 1.64 1.67 1.74 1.74 1.64 1.64 8000 13620 SHAKEYS PIZZA 10.8 10.9 10.98 11.08 10.9 10.9 53700 589342 -302960 ROXAS AND CO 2.2 2.24 2.24 2.24 2.17 2.18 113000 247050 RFM CORP 4.75 4.79 4.79 4.79 4.79 4.79 5000 23950 -23950 ROXAS HLDG 2.85 3.03 3.06 3.06 3.06 3.06 2000 6120 UNIV ROBINA 130 134 140 140 130 130 1823230 241828481 -47655075 VITARICH 1.55 1.56 1.55 1.63 1.54 1.55 7555000 11911320 445710 CEMEX HLDG 2.14 2.15 2.24 2.25 2.14 2.15 9819000 21291940 41730 DAVINCI CAPITAL 4.16 4.65 4.11 4.69 4.11 4.69 9000 38200 EAGLE CEMENT 14.88 14.98 14.9 15 14.9 14.98 10100 150518 EEI CORP 8.88 8.91 9 9.14 8.66 8.88 254000 2253829 -488943 HOLCIM 6.2 6.3 6.2 6.2 6.2 6.2 10500 65100 MEGAWIDE 17.38 17.4 17.32 17.78 17.02 17.4 5753000 99743100 3661537.9999 PHINMA 8.95 9.03 9 9.04 9 9 93600 842700 TKC METALS 0.88 0.94 0.97 0.97 0.88 0.94 17000 15110 VULCAN INDL 2.56 2.57 2.52 2.63 2.44 2.57 37094000 94263670 150040 CROWN ASIA 1.58 1.59 1.6 1.6 1.56 1.58 140000 221420 EUROMED 1.46 1.69 1.52 1.52 1.46 1.46 11000 16660 LMG CHEMICALS 4.81 4.85 4.81 4.82 4.8 4.82 132000 634440 PRYCE CORP 5.51 5.57 5.6 5.99 5.55 5.55 93500 520615 -515536 CONCEPCION 36.15 38 38 38 38 38 400 15200 -15200 INTEGRATED MICR 11.2 11.3 11.5 11.5 11.2 11.2 316800 3575704 74318 IONICS 1.61 1.62 1.7 1.71 1.61 1.62 1347000 2204400 64800 SFA SEMICON 1.49 1.55 1.52 1.57 1.48 1.55 241000 362420 CIRTEK HLDG 35.3 35.85 35.8 36 35.5 35.85 320600 11492170 -218380

HOLDING & FRIMS ABACORE CAPITAL 0.455 0.46 0.495 0.495 0.45 0.46 82189000 38302155 392810 ASIABEST GROUP 25.3 25.85 26.05 26.1 25.25 25.85 21400 545835 -10545 AYALA CORP 889 890 900 900 885 890 215770 192011290 -108851035 ABOITIZ EQUITY 45.6 45.7 47.25 47.25 45.45 45.7 824800 37672995 -21188265 ALLIANCE GLOBAL 11.48 11.5 11.68 11.68 11.42 11.5 6117400 70333214 -39689954 ANSCOR 6.2 6.21 6.2 6.2 6.2 6.2 36600 226920 226920 ANGLO PHIL HLDG 0.76 0.88 0.78 0.78 0.78 0.78 2000 1560 ATN HLDG A 1.17 1.18 1.26 1.26 1.17 1.17 18003000 21524980 ATN HLDG B 1.19 1.2 1.24 1.24 1.2 1.2 3104000 3752400 826670 COSCO CAPITAL 6.85 6.9 6.92 6.92 6.6 6.85 1818700 12436983 4854340 DMCI HLDG 12 12.08 12.1 12.18 12 12.08 2911000 35065576 -6031392 FILINVEST DEV 7.08 7.23 7.22 7.23 7.22 7.23 200 1445 GT CAPITAL 777 785 784 785 740 785 68560 52487905 7606050 JG SUMMIT 47 47.4 48.4 48.4 46.5 47.4 1501200 71152835 -13793555 LODESTAR 0.52 0.54 0.55 0.55 0.52 0.54 101000 52660 LOPEZ HLDG 4.3 4.41 4.4 4.48 4.3 4.3 135000 591490 -229250 LT GROUP 14.56 14.64 14.5 14.64 14.12 14.64 7405800 107040514 18172360 MABUHAY HLDG 0.57 0.59 0.57 0.58 0.54 0.58 2990000 1671270 METRO PAC INV 4.74 4.77 4.8 4.8 4.65 4.77 27380000 129995290 -10235160 PACIFICA 0.037 0.038 0.037 0.038 0.037 0.038 8100000 301400 PRIME ORION 2.28 2.29 2.37 2.37 2.25 2.29 633000 1437690 45199.9999 PRIME MEDIA 1.15 1.16 1.16 1.16 1.15 1.15 82000 94470 SOLID GROUP 1.36 1.4 1.36 1.4 1.36 1.4 19000 26200 -2800 SYNERGY GRID 304 400 321.2 321.2 300 300 110 33612 SM INVESTMENTS 860 868 873 879.5 855 860 241250 207665385 -49031325 SAN MIGUEL CORP 156.8 159.8 155.5 159.8 155 159.8 181710 28686909 13230847 WELLEX INDUS 0.227 0.23 0.23 0.23 0.226 0.227 550000 125090 ZEUS HLDG 0.191 0.216 0.216 0.216 0.216 0.216 10000 2160

PROPERTY ARTHALAND CORP 0.64 0.65 0.64 0.66 0.64 0.65 1527000 991410 ANCHOR LAND 11.28 11.9 11.44 11.5 11.44 11.5 37600 431764 AYALA LAND 37.95 38 39 39.05 38 38 17933500 686196330 -270607125 BELLE CORP 2.4 2.43 2.43 2.44 2.4 2.4 1741000 4191010 -1428670 A BROWN 0.76 0.77 0.78 0.78 0.76 0.76 881000 671840 CITYLAND DEVT 0.88 0.89 0.89 0.89 0.89 0.89 40000 35600 20470 CROWN EQUITIES 0.215 0.221 0.223 0.223 0.215 0.221 1030000 222040 CEB LANDMASTERS 4.3 4.4 4.38 4.4 4.3 4.4 334000 1452080 -95040 CENTURY PROP 0.41 0.415 0.42 0.42 0.41 0.41 2960000 1216700 CYBER BAY 0.385 0.4 0.39 0.39 0.385 0.385 390000 151900 DOUBLEDRAGON 19.38 19.4 19.7 19.7 19.4 19.4 709300 13818664 -794846 DM WENCESLAO 7.81 7.87 8 8.05 7.8 7.87 2857500 22423251 EMPIRE EAST 0.52 0.53 0.52 0.52 0.52 0.52 157000 81640 FILINVEST LAND 1.42 1.43 1.43 1.44 1.42 1.42 3145000 4472530 -171340 GLOBAL ESTATE 1.05 1.08 1.07 1.07 1.06 1.06 1144000 1214190 8990 HLDG 6.98 7.01 6.96 7.01 6.96 7.01 67400 472141 CITY AND LAND 0.92 0.94 0.9 0.92 0.9 0.92 16000 14620 -4500 MEGAWORLD 4.27 4.3 4.3 4.31 4.18 4.3 17374000 73805500 -15029160 MRC ALLIED 0.56 0.57 0.58 0.59 0.56 0.56 37586000 21420910 56000 PRIMEX CORP 3.17 3.19 3.18 3.2 3.11 3.19 908000 2854680 -126350 ROBINSONS LAND 20.5 20.6 20.65 20.65 19.78 20.5 2351200 47126455 15839552.0004 PHIL REALTY 0.4 0.41 0.4 0.41 0.4 0.41 640000 261100 -110700 ROCKWELL 1.91 1.93 1.94 1.95 1.9 1.93 141000 269990 72880 SHANG PROP 3.15 3.18 3.18 3.18 3.18 3.18 2000 6360 STA LUCIA LAND 1.12 1.13 1.14 1.14 1.1 1.13 600000 673260 -1140 SM PRIME HLDG 33.65 33.75 34.4 34.4 33.55 33.7 8383800 282871760 -109301010 STARMALLS 6.87 6.88 7.98 7.98 6.81 6.87 4307400 31010581 1128759 VISTA LAND 5.09 5.12 5.29 5.35 5.09 5.1 10145700 52098859 -28542728

SERVICES ABS CBN 21.4 21.45 21.5 21.6 21.35 21.45 47300 1019045 GMA NETWORK 5.09 5.13 5.15 5.15 5.1 5.13 177900 909569 MANILA BULLETIN 0.37 0.41 0.41 0.41 0.41 0.41 330000 135300 GLOBE TELECOM 2042 2050 2030 2052 2000 2050 66890 136352220 49439990 PLDT 1375 1380 1395 1395 1368 1380 55200 75999450 -36610470 APOLLO GLOBAL 0.038 0.039 0.04 0.04 0.039 0.039 2200000 86100 4000 DFNN INC 7.65 7.71 7.71 7.71 7.66 7.66 20500 157055 74287 IMPERIAL 1.81 2.1 1.9 1.95 1.9 1.95 4000 7700 ISLAND INFO 0.106 0.107 0.108 0.108 0.107 0.107 1350000 144680 -53500 JACKSTONES 2.97 3.22 3.06 3.29 3.06 3.23 29000 92240 NOW CORP 4.25 4.26 4.7 4.7 4.25 4.26 6650000 29225760 397470 TRANSPACIFIC BR 0.5 0.51 0.52 0.53 0.5 0.5 28979000 14814360 3270 PHILWEB 3.27 3.28 3.4 3.4 3.26 3.27 440000 1461840 -9840 2GO GROUP 10.28 10.78 11.02 11.02 10.2 10.32 35100 367716 CEBU AIR 64.55 65.2 65.5 65.95 64.55 64.55 69920 4542906 -675914 CHELSEA 6.03 6.04 6.08 6.15 5.9 6.04 3542000 21367267 -221090 INTL CONTAINER 90.1 90.2 93.5 93.5 89.5 90.2 4328090 389823393.5 2704880 LBC EXPRESS 13.52 14.7 14.7 14.7 14.7 14.7 1900 27930 4410 LORENZO SHIPPNG 0.82 0.83 0.83 0.83 0.83 0.83 134000 111220 MACROASIA 17.12 17.26 17.58 17.58 17.1 17.26 635400 11003860 3252111.9997 METROALLIANCE A 1.27 1.33 1.35 1.35 1.26 1.33 12000 15770 PAL HLDG 7.67 8.28 8.3 8.3 8.28 8.28 1400 11612 HARBOR STAR 2.77 2.78 2.83 2.92 2.77 2.78 3219000 9098120 -393660 WATERFRONT 0.57 0.58 0.61 0.61 0.57 0.58 919000 537260 FAR EASTERN U 890 900 900 900 900 900 110 99000 99000 STI HLDG 0.75 0.77 0.81 0.81 0.75 0.75 5382000 4143550 344270 BERJAYA 1.6 1.62 1.71 1.71 1.58 1.62 2649000 4359610 -200 BLOOMBERRY 7.99 8 8.16 8.23 7.97 8 7719300 62142630 -37186221 LEISURE AND RES 3.39 3.4 3.4 3.47 3.38 3.4 352000 1194840 -60 MANILA JOCKEY 5.4 5.45 5.45 5.45 5.34 5.4 59400 318875 MELCO RESORTS 7.01 7.02 7.07 7.08 7.02 7.02 7164800 50354755 -35465224 PREMIUM LEISURE 0.77 0.78 0.84 0.84 0.76 0.77 12065000 9596330 480270 TRAVELLERS 5.18 5.19 5.2 5.2 5.15 5.19 1592500 8251555 -3368252 METRO RETAIL 2.22 2.23 2.25 2.25 2.22 2.23 450000 1002900 -15630 PUREGOLD 40.5 41.9 41 41.9 39.9 41.9 293000 11,979,990( 4,244,185.0003) ROBINSONS RTL 78 78.5 79 79 77.5 78 617800 48186880 -12331850.5 PHIL SEVEN CORP 105 108 109 109 105 105 285890 30026080 -13688 SSI GROUP 2.5 2.51 2.58 2.59 2.45 2.51 11316000 28468450 5382480 WILCON DEPOT 11 11.3 11.4 11.4 11 11.3 2335900 26441742 11516154 APC GROUP 0.43 0.435 0.45 0.455 0.43 0.43 790000 346750 EASYCALL 9.77 9.8 11.62 12 9.01 9.8 306700 3251774 -2039.9999 GOLDEN BRIA 306.8 316 313 320 300.8 316 7890 2452400 415186 PRMIERE HORIZON 0.345 0.36 0.365 0.365 0.345 0.345 750000 262500 SBS PHIL CORP 6.76 7.16 6.8 6.8 6.79 6.8 27100 184174

MINING & OIL ATOK 14.62 15 15.18 15.7 14.1 15 133300 2034742 12480 APEX MINING 1.71 1.73 1.64 1.83 1.6 1.71 34507000 60473280 -7262950 ABRA MINING 0.0022 0.0023 0.0023 0.0023 0.0022 0.0022 194000000 442100 -2200 ATLAS MINING 2.67 2.98 2.64 2.67 2.64 2.67 17000 45090 BENGUET A 1.11 1.3 1.2 1.3 1.2 1.3 11000 13790 BENGUET B 1.11 1.25 1.1 1.25 1.1 1.25 18000 20810 COAL ASIA HLDG 0.3 0.305 0.3 0.3 0.3 0.3 10000 3000 CENTURY PEAK 1.91 1.95 1.89 1.92 1.89 1.91 358000 684130 DIZON MINES 7.29 7.3 7.32 7.35 7.29 7.29 900 6583 FERRONICKEL 1.82 1.83 1.85 1.85 1.8 1.83 1744000 3168550 -78060 GEOGRACE 0.211 0.221 0.227 0.227 0.211 0.221 560000 121070 LEPANTO A 0.109 0.111 0.112 0.112 0.111 0.112 520000 58230 LEPANTO B 0.109 0.111 0.109 0.111 0.109 0.111 210000 22910 MANILA MINING A 0.0072 0.0073 0.0076 0.0076 0.0073 0.0073 12000000 88200 MANILA MINING B 0.006 0.0068 0.0072 0.0072 0.0068 0.0068 60000000 420000 68000 MARCVENTURES 1.23 1.3 1.29 1.34 1.29 1.3 160000 209870 NIHAO 1.01 1.05 1.05 1.06 1.02 1.06 62000 64030 -6350 NICKEL ASIA 2.61 2.65 2.71 2.71 2.6 2.61 755000 1991920 -505340 OMICO CORP 0.57 0.58 0.58 0.58 0.57 0.57 194000 111630 ORNTL PENINSULA 0.96 0.97 0.97 0.98 0.96 0.96 964000 927880 PX MINING 3.49 3.5 3.25 3.66 3.2 3.5 11107000 38887730 -11963520 SEMIRARA MINING 27.2 27.4 28.2 28.2 26.9 27.2 1304100 35542500 -856690 UNITED PARAGON 0.0062 0.0067 0.0067 0.0067 0.0062 0.0062 8000000 52600 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.013 2200000 27400 PHILODRILL 0.012 0.013 0.012 0.012 0.012 0.012 29300000 351600 PHINMA PETRO 4.02 4.18 4.19 4.25 4 4.18 170000 695340 PXP ENERGY 17.58 17.6 16.32 17.62 15.98 17.6 13613700 235034486 14146878

PREFFERED HOUSE PREF A AC PREF B1 AC PREF B2 ALCO PREF B DD PREF SMC FB PREF 2 GLO PREF P LR PREF SMC PREF 2B SMC PREF 2C SMC PREF 2F SMC PREF 2G SMC PREF 2H SMC PREF 2I

95.75 464.6 485.4 99.05 96.1 999.5 481 1.01 75.1 76.15 74.5 73.7 73.3 73

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

21.2 4.91

96.8 465 490 100 96.75 1000 489 1.02 75.8 76.95 75 74.95 74 73.45

96.8 465 487.6 99 96.75 976 489 1.01 75.1 76.15 74.5 74.25 73.45 73.6

96.8 465 487.6 99 97 1000 489 1.01 75.1 76.15 75 74.95 74 73.6

96.8 464.6 487.4 99 96.2 976 489 1.01 75.1 76.15 74 74.2 73.35 73.45

96.8 464.6 487.4 99 97 1000 489 1.01 75.1 76.15 75 74.95 74 73.45

1030 8010 700 1000 19400 5900 10 155000 1520 40 14800 30540 15690 19600

99704 3723450 341280 99000 1876590 5850150 4890 156550 114152 3046 1098950 2266613 1156515 1440743

-3046 37100 -

21.45 5.03

20.25 4.93

21.55 4.95

20.25 4.91

21.45 4.91

18700 89000

401505 438850

197915 -345080

WARRANTS LR WARRANT

2.32

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.61 XURPAS 1.5

2.37

2.35

2.37

2.31

2.37

156000

362050

-

4.7 1.52

4.68 1.63

4.75 1.63

4.6 1.49

4.61 1.5

293000 9963000

1360780 15239040

3500 -1740080

EXHANGE TRADE FUNDS FIRST METRO ETF

105.1

105.2

107

107

105

105.2

30810

3249074

26310

Editor: Efleda P. Campos

PITX set to open on Nov. 5

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By Lorenz S. Marasigan

@lorenzmarasigan

OMMERCIAL operations of the Parañaque Integrated Terminal Exchange (PITX) are set to officially start on November 5, with its builder and operator vowing that the first “land port” in the Philippines will help provide ease of connection between transport modes in the area.

Louie B. Ferrer, the president of MWM Terminals Inc., said his group is gearing up for the opening date of the new facility, a flagship project under the Public-Private Partnership (PPP) Program of the previous administration.

“Right now, the commuting situation in Metro Manila is very unfriendly. People endure difficult transfers, long and unsure waiting times, and makeshift waiting areas just to get a ride to or from work. But with PITX, we aim to change all of that,” he said.

Ferrer explained the new facility will allow passengers to choose their preferred trip schedules, and use the facilities while waiting inside a “comfortable terminal setting.”

“It’s about time we make the Metro a passenger-friendly place, starting this November,” he said.

President Duterte is expected to lead the inauguration of the new terminal. Cabinet officials, led by Transportation Secretary Arthur P. Tugade, will also be present during the event.

Tugade said the terminal, located

Pryce Corp. net income reaches ₧1.11B in Jan-Sept

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RYCE Corp. posted P1.11 billion in net income at end-September this year, up 18.23 percent from P943 million in the same period a year ago mainly on account of higher revenue.

From January to September this year, Pryce recorded P7.57 billion in revenue, from P6.44 billion in the same period a year ago.

LPG (liquefied petroleum gas) revenues comprised 92 percent of the company’s revenue. The remaining 8 percent came from sales of industrial gases, real estate and pharmaceutical products.

All of its business segments re g i s t e re d p o s it i v e re v e nue growth. The LPG and industrial gas division posted a 15.79-percent increase, while real estate

and pharmaceutical products had 112.05 percent and 26.15 percent improvements, respectively.

The average LPG contract prices went up by 17 percent to $541.33 per metric ton, from last year’s $462.67 per MT. The company said it is on track to hit its P1.5-billion target net income for the year “coming into the fourth quarter, the last quarter being the strongest one historically in terms of sales volume and income.”

Also, the company’s ongoing expansion projects in its marinefed terminals and construction of additional refilling plants are seen to foster demand in various regions toward the close of this year and beyond. Lenie Lectura

Aboitiz Group to develop, rehab Boracay’s Wetland 4

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HE Aboitiz Group is supporting the government’s ongoing rehabilitation of Boracay Island by partnering with the Department of Tourism (DOT), Tourism Infrastructure and Enterprise Zone Authority, and the Department of Environment and Natural Resources (DENR).

Last August the group signed a memorandum of agreement with the DENR to adopt and revive Wetland 4, a 1-hectare lagoon located in Barangay Balabag in Boracay, one of the nine wetlands being rehabilitated by the private sector.

Currently, Wetland 4 is being fitted with various structures to enhance and develop its ecological footprint, including water plants, fishing areas and water aerators to increase or maintain the lagoon’s water-oxygen saturation.

Meanwhile, Aboitiz Group’s WeatherPhilippines has also installed an automated weather station at Wetland 4. The AWS will gather localized weather information through rain probability, wind direction, wind speed, temperature and heat index, among others. This is important in making decisions relating to tourism, like scheduling of water activities and tours. This information is all accessible through the new WeatherPH app, free to download both via

Google Play and App Store.

By supporting the national government in this rehabilitation project, the Aboitiz Group also delivers on its brand promise of advancing business and communities with long-term sustainability in mind.

Aboitiz believes it can do well by doing good, always making the right long-term decisions that balance the interests of people, planet and profit.

“We are pleased with the progress we have achieved so far with the Boracay rehabilitation, yet we still have so much to accomplish. We would like to thank the DENR, DOT and the Boracay Inter-Agency Task Force for giving us the opportunity to co-create a community that is safe, sustainable and empowered,” said Erramon I. Aboitiz, Aboitiz Equity Ventures president and CEO. The Aboitiz-adopted wetland aims to have three traits: recreational, using low-impact ecotourism design; educational, by helping the immediate community learn about the protection, conservation, enhancement and rehabilitation of Boracay’s natural ecosystems; and experiential, by engaging locals, students and even tourists to participate in cleanup, maintenance, and protection initiatives.

southwest of Metro Manila along the Coastal Road, is expected to reduce the number of provincial buses plying Metro Manila, specifically along Taft Avenue-Pasay, Edsa. It is an integrated and multimodal terminal that will serve as a transfer point between provincial buses from Cavite and Batangas, and in-city modes of transportation.

“This terminal boasts of airportlike facilities and services. It is not an ordinary terminal, but a landmark transportation hub that is set to uplift the overall terminal experience of our countrymen,” he said.

Tugade added the government saved roughly P3.5 billion for the facility, as he negotiated for the removal of the annual grantor’s payment of P100 million per year throughout the 35-year concession period.

MWM Terminals won the bidding for the P2.5-billion Integrated Transport System (ITS) Southwest Terminal deal from the transport department in 2015, offering the lowest annual subsidy of P100 million, besting Filinvest Land Inc.’s P650-million annual subsidy bid.

The facility has a daily maximum

MUTUAL FUNDS

capacity of 100,000 passengers with peak-hour passenger volume of 4,380 arrivals and 3,808 departures.

It can accommodate 1,060 arrivals and 949 departures per day.

It houses 59 bays for provincial and city buses, 49 bays for UV express and jeepneys, and 852 car parking slots. The facility will also have a connection to the proposed extension of the Light Rail Transit (LRT) Line 1 to Cavite.

Passengers can also book for their tickets online, thanks to the centralized ticketing counters and 50 automated ticketing kiosks set up inside the terminal. The facility also houses concourse facilities, free Internet access, drinking water stations, work areas, charging ports, locker rentals, breast-feeding stations, a clinic, a prayer room, and equipment to help senior citizens and persons with disabilities.

It will also feature a shopping center, a supermarket and food stores, among other retail outlets.

MWM Terminals is a joint venture between Megawide Construction Corp. and Walter Mart Property Management Inc. of billionaire and retail magnate Henry Sy.

October 25, 2018

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 243.02 -14.81% -1.35% 0.08% -17.11% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3904 -13.46% 2.83% 1.64% -12.93% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.774 -15.28% -0.46% -0.87% -17.83% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8645 -14.43% N.A. N.A. -15% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8007 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.0088 -13.59% -3.06% -0.73% -16.7% MBG EQUITY INVESTMENT FUND, INC. * ****** 109.36 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.804 -17.04% N.A. N.A. -19.01% PAMI EQUITY INDEX FUND, INC.* 47.1394 -13.99% -0.57% N.A. -16.41% PHILAM STRATEGIC GROWTH FUND, INC.* 490.92 -14.71% -1.97% -1.08% -16.58% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2135 -11.53% 0.15% N.A. -13.59% PHILEQUITY FUND, INC.* 35.3262 -11.25% 0.54% 1.94% -14.04% PHILEQUITY PSE INDEX FUND INC.* 4.7408 -13.73% 0.11% 1.81% -16.45% PHILIPPINE STOCK INDEX FUND CORP.* 791.44 -13.66% -0.15% 1.46% -16.31% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.823 -13.09% -2.42% N.A. -14.9% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.8975 -12.42% -0.33% 0.21% -14.91% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9128 -13.89% -0.06% N.A. -16.51% UNITED FUND, INC.* 3.371 -10.36% 1.04% 0.29% -13.44% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* *** 105.8378 -13.19% 1.02% N.A. -15.97% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.9328 -13.41% 0.63% -1.01% -15.84% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.2023 -1.62% N.A. N.A. -4.97% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6106 -11.82% -3.44% -2.45% -13.57% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1553 -10.68% -0.81% -0.32% -12.28% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.4598 -9.43% -4.04% -2.98% -11.2% GREPALIFE BALANCED FUND CORPORATION* **** 1.2758 -11.35% N.A. N.A. -12.31% NCM MUTUAL FUND OF THE PHILS., INC* 1.7948 -7.94% -0.52% -0.45% -9.92% PAMI HORIZON FUND, INC.* 3.3977 -12.24% -2.46% -1.54% -13.28% PHILAM FUND, INC.* 15.2905 -11.98% -2.37% -1.57% -12.91% SOLIDARITAS FUND, INC.* ******** 2.0156 -9.1% -0.32% 1.3% -10.1% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.5485 -9.5% -1.19% -0.57% -11.21% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.8973 -9.96% -1.66% N.A. -12.06% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03459 -4.18% -0.73% 1.29% -4.18% PAMI ASIA BALANCED FUND, INC.* $0.9283 -10.27% 0.49% -2.07% -11.34% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.4944 -1.78% 3.81% 2.13% -4.33% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0625 -3.22% N.A. N.A. -4.47% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 341.38 1.41% 1.78% 1.59% 1.27% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8582 -1.9% -1.17% -0.64% -1.8% COCOLIFE FIXED INCOME FUND, INC.* 2.9453 5.49% 5.34% 5.23% 4.37% EKKLESIA MUTUAL FUND INC.* 2.1168 -0.03% 0.94% 0.9% 0.69% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2118 -0.22% -0.13% 0.41% -0.2% GREPALIFE FIXED INCOME FUND CORP.* P 1.5717 -2.63% -1.65% -1.19% -2.35% PHILAM BOND FUND, INC.* 3.7923 -7.23% -2.31% -1.2% -6.36% PHILEQUITY PESO BOND FUND, INC.* 3.4514 -1.12% -0.69% -0.31% -1.52% SOLDIVO BOND FUND, INC. * 0.8735 -5.95% -2.44% N.A. -5.38% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.749 -1.1% -0.19% 0.14% -1.01% SUN LIFE PROSPERITY GS FUND, INC.* 1.5297 -1.45% -0.62% -0.18% -1.29% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $445.98 0.28% 2.12% 2.88% 0.01% ALFM EURO BOND FUND, INC. * Є213.31 0.23% 1.3% 1.64% -0.19% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1216 -1.08% 0.72% 1.49% -1.1% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 -0.8% 0.54% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.6909 -4.64% -0.67% 0.89% -4.55% 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* $1.0229 -5.36% -1.81% -3.05% -4.71% PHILAM DOLLAR BOND FUND, INC.*

$2.1312 -4.88% -0.06% 1.92% -5.32% PHILEQUITY DOLLAR INCOME FUND INC.* $0.056888 -1.01% 0.83% 1.73% -0.55% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8794 -4.34% 0.36% 1.37% -4.43% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 120 2.35% 1.69% 1.45% 2.03% PHILAM MANAGED INCOME FUND, INC.* 1.1726 1.58% 0.32% 0.35% 1.31% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2111 2.45% 2.17% 1.43% 2.16% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.0124 N.A. N.A. N.A. 1.37%

* - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE.

**** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.).

***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

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BusinessMirror

Friday, October 26, 2018

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B4 Friday, October 26, 2018

BusinessMirror

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B6 Friday, October 26, 2018

SM SUPERMALLS WINS MARKETING COMPANY OF THE YEAR IN 2018 AGORA AWARDS

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M Super m a l l s wa s awa rded t he M a rket i ng Compa ny of Yea r in t he prest ig ious 39t h A gora Awa rd s at t he recent awa rd s n ig ht held at t he Ok ad a Ma n i l a Gra nd Ba l l room.

Spearheaded by the Philippine Marketing Association (PM A), the

39th Agora Awards recognizes and celebrates the success of individuals and organizations that embody the best-in-class marketing intelligence, innovations and ingenuit y of Filipinos. Since its foundation is 1979, they have honored severa l notable individuals and companies

for significant contributions in the marketing profession.

W hile the PM A hosts the Agora Aw a rd s a n nu a l ly, t he re h a s not been a w inner of t he Ma rket ing Company of the Year for the past two years. T his year SM Super ma lls and Vista Land were named Marketing Compa ny of t he Ye a r aw a rde e s.

Deemed as “the Oscars of the Philippines”, the Agora Awards honor comp a n ie s for t he i r e x c e l l e nc e , innovation and contributions in the field of marketing.

T he SM Group received its first Agora Award in 1999, where Henry Sy Sr. was presented with The Agora for outstanding achievement in largesc a le ent re preneu rsh ip. I n 20 0 4 T he SM Foundation was g iven T he Agora for outstanding achievement for advocac y marketing.

Photo shows SM Super ma l ls C h ief O perat ing Of f ice Steven Ta n (center) rece iv i ng t he M a rket i ng C o m p a n y o f t h e Ye a r a w a r d a t t he39t h A gora Awards by t he PM A . W it h h i m a re (f rom le f t) A le x i s R e v i l l a , Mega Globa l Cor p.

P resident W i l l i a m Tiu L i m , PM A President A rlene Padua, 39t h A gor a Aw a rd s o ve r a l l c h a i r m a n M ae yet h C adu ngog a nd d i rec tor M a r y Fa it h A ba ño.

UPMG CONDUCTS 10TH BOARD MEETING AT ISLAS PINAS The United Print Media Group (UPMG) board of directors held their 10th board meeting at Islas Pinas Food Hall at DoubleDragon Plaza on October 17, and was hosted

by Brian Ong and Jamaica Puti of DoubleDragon Properties. In Photo are (from left) Angel Guerrero of adobo magazine, Badette Cunanan of Manila Bulletin Publishing Corp., Annie Grefal of The Manila Standard, Sherly Baula of the Chinese Commercial News, Barbie Atienza of Manila Bulletin Publishing Corp., Jun Aluad of Pilipino Star Ngayon, Jay Sarmiento of The Philippine Star, Ong, Puti, Vivienne Motomal of Philippine Journalists Inc. and Marvin Estigoy of BusinessMirror.

PAG-IBIG HITS P52 B IN HOME LOANS FROM JANUARY TO SEPTEMBER THIS YEAR

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OME Development Mutual Fund (Pag-IBIG Fund) top executives affirmed that they have released nearly P52 billion worth of housing loans in the last nine months, breaking records from previous years. The housing-loan takeout grew by 14 percent, or P6.4 billion higher, compared with the same period last year.

From January to September this year Pag-IBIG Fund housing-loan releases amounted to P51.76 billion, helping 62,665 families acquire their own homes. Out of all homes financed in the last nine months, 31 percent, or 19,189, are socialized housing units with an aggregate value of over P7.44 billion.

“The year is not over, yet, but Pag-IBIG Fund already breached the P50-billion mark in its housing-loan releases. This is a remarkable achievement, because this is the first time that the P50-billion mark was reached in only nine months. The fund’s accomplishment contributes greatly to the antipoverty agenda of the Duterte administration. Under the Balai Filipino [Building Adequate, Livable, Affordable and Inclusive Filipino Communities] program, we are committed to bring

housing opportunities to every Filipino family,” said Housing and Urban Development Coordinating Council and Pag-IBIG Fund board chairman Eduardo D. del Rosario.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said they eye to release a fund of P73 billion to P75 billion of housing loans—higher by up to P3.5 billion—than its P71.5 billion annual target.

“We assure our members that Pag-IBIG Fund will continue with its low interest rates in our housing programs. This is mainly due to our strong financial performance and our members’ continued trust in the agency, as can be seen by the high availment of Pag-IBIG housing loans. Current rates are pegged at only 3 percent per annum for loans up to P450,000 under Pag-IBIG Fund’s affordable housing program, while our regular housing program offers as low as 5.375 percent per annum for loans as high as P6 million,” Moti said.

In 2017 Pag-IBIG Fund achieved its best year ever, recording its highest housing-loan releases worth P65.1 billion, which enabled the fund to provide homes to 80,964 families.

DE LA SALLE UNIVERSITY PUBLISHING HOUSE TITLES NAMED AS 37TH NATIONAL BOOK AWARDS FINALIST

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WO titles from the De La Salle University Publishing House were among the finalists for the 37th National Book Awards. The announcement was posted in the National Book Development Board’s (NBDB) official web site.

Betsy Westerndorp, a two-volume work on the life and art of the painter, was named finalist for Best Book in Art. The impressive coffee table book showcases the range of mastery of the world-renowned painter who also received the Presidential Medal of Merit for Art and Culture in 2008.

For her valuable contributions to the field of visual arts, Westendorp was also named Lazo de Dama de la Orden de

Isabel la Catolica, the equivalent of knighthood for ladies, by His Majesty King Juan Carlos I in 1976.

In addition, Systemic Pesticides: A Worldwide Assessment, edited by Jean-Marc Bonmatin, Francisco Sanchez Bayo and Jose Isagani JI Janairo, was named finalist for Best Book in Science. This title also received the 2018 Outstanding Book Award from the National Academy of Science and Technology last July.

The National Book Awards is sponsored by the NBDB and the Manila Critic’s Circle. It honors and celebrates outstanding books written, designed and published in the Philippines.

EXPERTS DISCUSS LATEST ADVANCEMENTS IN CANCER CARE AT YEARLY CONVENTION

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ANCER remains to be one of the leading cause of mortality in the world. In her presentation at the annual cancer convention, Philippine Society of Medical Oncology (PSMO) President Dr. Claire Soliman revealed that recent studies show a steady increase in global cancer incidence. In the Philippines alone, roughly 141,021 cases were reported this year. The top cancer sites for women include breast, cervix, colorectal, lung and ovary; while for men, lung, colorectal, prostate, liver and leukemia remain most common. Among the leading causes of cancer in the country, three are preventable (lung, liver and cervix) while the remaining two can be cured if detected early (breast, colorectal).

“Cancer care in the country has continued to expand and improve. The last five years has seen a surge in the availability of world-class cancer-treatment modalities in the Philippines,” Dr. Soliman shared. “Surgeons can now offer more minimally invasive procedures, new state-of-the-art radiation therapies have emerged, and medicines other than chemotherapy and hormonal therapy are now available, such as targeted therapy, monoclonal antibodies and immunotherapy. Gone are the days of patients undergoing chemotherapy and suffering from the side effects, such as hair loss, vomiting or loss of appetite. New medications have less to no side effects and those that remain can be ameliorated with adjunct medications.”

PSMO held its annual cancer convention in partnership with the American Society of Clinical Oncology during the breast cancer awareness this month.

The convention brought together oncology experts from the Philippines and around the world to discuss the latest research, innovations and advances in cancer care.

This yearly conference gives cancer-care experts a venue to share new initiatives and best practices.

Discussions, news and important research findings are then shared to the media and the public to help push continued cancer education.

According to PSMO, the most important thing for patients is still educating themselves and knowing the facts. The more a patient is empowered with facts, the more they can make educated decisions with their doctors on the right course of safe and effective treatment for them.

With all the new innovations available, cancer need not be a death sentence. Medical and technological advances have resulted in more cancer patients surviving the dreaded disease. Innovative cancer medicines, backed by clinical trials, personalized health care, proper and accurate diagnosis, targeted and biologic therapies, multidisciplinary treatment, side-effect management and major successes in previous cancer cases, have all contributed to better outcomes and improved quality of life.

The National Integrated Cancer Control Act, or House Bill 6153 which, if passed into law, will provide cancer centers throughout the country and dedicate funding to cancer treatments and patient assistance. Primarily authored by Rep. Alfred Vargas of the Fifth District of Quezon City, it will serve as a landmark legislation in aid to thousands of Filipinos fighting cancer, across all types of cancer, from all ages and all stages.

The bill aims for the establishment of an integrated, robust, well connected, accredited network of cancer-care centers in strategic areas of the country; strengthening of the human resource complement; optimizing quality health-care systems; improvement in information systems; expansion and introduction of innovative PhilHealth benefits for cancers patients’ institutionalizing social-protection mechanisms for cancer patients, persons living with cancer, survivors, their families and carers, among other provisions.

Sports BusinessMirror

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| Friday, October 26, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

LOS ANGELES Dodgers outfielder Chris Taylor waits for a pitcher change during the eighth inning of Game Two of the World Series on Wednesday. AP

IT’S COLD IN BOSTON Used to the balmy breezes at home and usually hospitable weather in the National League West, Los Angeles hadn’t started a game this year in a temperature below 58. Facing a 53-degree temperature at the start of the opener, the Dodgers lost 8-4.

By Ronald Blum

hospitable weather in the National League West, Los Angeles hadn’t started a game this year in a temperature below 58. Facing a 53-degree temperature at the start of the opener, the Dodgers lost 8-4. It was just 46 in the first inning for Game Two, and the Dodgers’ bats were cold again—their last 16 hitters retired in order.

“This is the first time we’ve played in obviously weather like this—San Francisco a little bit, but nothing like this,” Dodgers manager Dave Roberts said before the game. “So it’s an adjustment, and that’s part of the home-field advantage and especially being in the bullpen, where you have a little heater, but still have to kind of get hot and stay hot. It’s more of a challenge.”

Ryan Madson was unusually open about how out of sorts the Dodgers were on late-October nights in the northeast.

“Last night in the bullpen, we had a couple of heaters going,” he said before Game Two. “It was warm out there, but to get up and move around. I didn’t feel as gummy as usual when it’s 75, 80 degrees. So I’m going to make that adjustment tonight, move around a little bit more. I’m going to tell the guys who didn’t pitch last night, just move around a little bit more than usual, move your knee joints. But maybe they’re young and they don’t feel it.”

Madson’s problem was the lack of movement on his pitches, as well as a changeup he threw for a wild pitch in Game One. Brought in to relieve Hyun-Jin Ryu and protect a 2-1 lead with the bases loaded and two outs in the fifth a night later, he walked Steve Pearce and gave up a two-run single to JD Martinez before throwing a single offspeed pitch.

“The ball’s not going where I want it. Last night it was pulling down to the left, and tonight it was high

The Associated Press

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OSTON—The San Gabriel Mountains shimmering in the distance will be a welcome sight for the Los Angeles Dodgers after two chilly, failed nights at Fenway Park.

No team has overcome a 2-0 World Series deficit in 22 years, but that is the tall task the Dodgers face after crumbling before the 37-foot-high Green Monster.

“It’s going to be warmer, and hopefully our bats get hot, too,” Cody Bellinger said after Wednesday night’s 4-2 defeat to the Boston Red Sox. No wonder they were California Dreamin’ about Thursday’s flight home.

Used to the balmy breezes at home and usually

PRICE ALL PUMPED UP

Dodgers overmatched in Fenway Park

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OSTON—Maybe this World Series just isn’t in the cards for the Los Angeles Dodgers.

Trying to play the matchup game, manager Dave Roberts’s team instead looked overmatched at Fenway Park.

They staggered home after a 4-2 loss Wednesday night, down 2-0 to the do-everything-right Boston Red Sox. “We’ve got to do a better job of responding,” catcher Austin Barnes said.

Not even a bit of new-age strategy—and a curious sight—could save them.

The Dodgers led 2-1 in the fifth inning when righthander Ryan Madson was summoned to replace lefty starter Hyun-Jin Ryu with the bases loaded and two outs.

As Madson warmed up, a Dodgers bat boy trotted onto the diamond, where outfielders Chris Taylor, Cody Bellinger and Yasiel Puig were waiting. The bat boy gave each of them laminated cards, presumably with new alignments for defensive positioning for Madson on the mound.

They didn’t help when Madson walked Steve Pearce, forcing home the tying run and bringing cleanup man JD Martinez to the plate.

Martinez led the majors with 130 RBIs this season, and drove in two more runs in Game One. A dangerous hitter, no doubt.

So Puig moved back in right field. Way back, in fact.

And when Martinez sent a soft liner the opposite way to right, Puig was nowhere close. He couldn’t even begin to make a move to catch it, and the ball dropped for a go-ahead, two-run single. The hit traveled 236 feet, Statcast said.

“Obviously, you have to respect the power of JD, so you just play back a bit. But, yeah, you know, that’s baseball,”

Barnes said. “Bloopers happen.”

As the fans went wild, Puig could do little except look at all the grass around him.

“Even if he was in, it’s going to drop in. It’s two out, they’re running on contact. And you’ve got to still respect JD’s power,” Roberts said.

Before the game, Madson said about facing Martinez: “You know you’re in a pit with a rattlesnake, and one bad move, and you’ll get bit if you’re not paying attention.”

The Dodgers certainly have been paying attention. They rely heavily on analytics for matchups, positioning and other decisions, and are among the most advanced in baseball in that department.

But even moves Roberts is making that seem to be right on the money aren’t working out.

“Every mistake we made, they capitalized and scored that inning, so it’s hard to come back from that,” Bellinger said.

Pulling Ryu seemed to surely be the right move with the bases jammed and three right-handed hitters coming up. But for the second straight night, Madson—a bullpen veteran who was part of championship teams in Kansas City and Philadelphia—let him down.

In the opener against lefty Chris Sale, the Dodgers became the first team to start nine right-handed hitters in a Series game, none switch-hitters. Roberts did it again against lefty David Price.

Perhaps the numbers showed that was the right move.

But to stack the lineup that way, Roberts left 109 home runs on the bench: Max Muncy, Bellinger, Joc Pederson and Yasmani Grandal, the team’s top four homer hitters. AP

to the right,” Madson said .

Dodgers pitching coach Rick Honeycutt was annoyed at the conditions experienced by his relievers in a bullpen just in front of the right field bleachers.

“Brutal. Pretty brutal,” he told Sports Illustrated. “What I don’t understand is why baseball allows it. You’ve got the rubber right there and people literally standing over you.”

Fenway’s frenzied fans benefit the Red Sox, a big-league best 57-24 at home during the regular season and 8-1 in the World Series since 2004.

“They live baseball 24 hours, seven days a week,” said Boston manager Alex Cora, who played for the Dodgers from 1998-04 and for the Red Sox from 2005-08. “They were into every pitch. Two strikes, they stood up. Madson came in and he was wild, and they were screaming and they were loud.

Sometimes we take them for granted, honestly.”

If Los Angeles is to recover, it will be at Chavez Ravine. The temperature for last year’s World Series opener at Dodger Stadium was 103 degrees. A more temperate mid-80s is forecast for Friday, when rookie Walker Buehler starts against Rick Porcello in an attempt to spark a turnaround. With a right-hander on the mound for Boston, most of the Dodgers’ top four homerun hitters are likely to be back in the starting lineup: left-handed batters Max Muncy, Joc Pederson, Yasmani Grandal and Bellinger were all benched in Boston.

“We’re going to shuffle it up for Game Three, but it’s not because of necessarily performance, it’s kind of who the starting pitcher for those guys is,” Roberts said.

But even if the Dodgers win at least two of three to force the Series back to Boston, they would still have to win at least once at quirky, noisy Fenway. There is no sign they can warm to the task.

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ON a frigid night at Fenway Park, David Price holds the highestscoring team in the National League hitless through three innings and retires the last seven batters he faces. AP

OSTON—From playoff flop to October ace in two legacy-shifting starts, David Price earned his second postseason victory in a row and moved the Boston Red Sox halfway to yet another World Series title.

The Red Sox left-hander pitched six innings of three-hit ball, and major league RBI leader JD Martinez broke a fifth-inning tie during another two-out rally to beat the Los Angeles Dodgers, 4-2, on Wednesday night.

Game Three is Friday in Los Angeles. The Dodgers need a win to avoid an 0-3 deficit that no World Series team has ever recovered from.

“This is the biggest stage in baseball,” Price said after his longest postseason outing since signing a seven-year, $217-million contract to come to Boston in 2016. “To be able to do that, it feels good, for sure. I’m pumped for myself, pumped for all my teammates and coaches for us to be two wins away.”

Mookie Betts had three hits for the Red Sox, who have won 14 of their last 16 World Series games dating to a fourgame sweep of the St. Louis Cardinals in 2004. They have won two more championships since then, in 2007 and 2013.

Not bad for a team that went the previous 86 years without a title.

And Price had battled a curse of his own.

The one-time Dodgers draft pick has pitched like an ace in the regular season but was 0-9 in his first 10 postseason starts before this October. Whether with Tampa Bay, Toronto, Detroit or Boston, his team had never won a playoff game he started before this year.

But the Red Sox have now won his last three postseason starts, including the American League Championship Series Game Five clincher against the defending World Series champion Astros in which he pitched six shutout innings.

“I get it, the numbers and all that. But this guy is a great pitcher,” Boston manager Alex Cora said. “He’s been one of the best pitchers in the big leagues for a while, and he cares.”

On a frigid night at Fenway Park, Price held the highest-scoring team in the National League hitless through three innings and retired the last seven batters he faced. He struggled only in the fourth, loading the bases with nobody out on two singles and a walk as the Dodgers took a 2-1 lead—their first of the Series.

“I’m so happy for him and proud of him,” Martinez said. “Going through all that criticism that he’s been getting here, to bounce back to what he’s been doing.”

And the Red Sox batters did what they’ve been doing: scoring with two outs. AP

Spo

Business

C2 Friday, October 26, 2018

FREEDOM TO SHOOT O

AKLAND, California—Stephen Curry appreciated the freedom from coach Steve Kerr to shoot from wherever he darn well pleased, no distance off limits.

On this night, Curry could get away with anything. He was feeling it.

“It is nice to turn around and not hear your coach on the sideline chewing you out,” Curry said. “I’d like to say I deserve that little wiggle room there for sure.”

Even with another post-championship, whirlwind summer that included welcoming a son, more golf tournaments and travel, Curry considered it among his best and most productive off-seasons.

His body is fully healthy and recovered after the Golden State superstar played only 51 regular-season games during the latest championship run because of injuries.

Through five games, Curry is as dominant as ever—as evidenced in a spectacular 51-point performance in Wednesday night’s 144-122 win against the Wizards playing only three quarters. He scored 18 straight for the Warriors during one stretch.

“It was a joy to be on the same court with that, that was sick,” Kevin Durant said “That boy good!” teammate Shaun Livingston tweeted immediately after the game.

His teammates notice Curry’s purpose when he takes the floor each day, whether practice or a game.

“Just to be great, it’s that simple,” Klay Thompson said earlier on Wednesday. “He’s never satisfied. We saw that after the first year he won Most Valuable Player he came back even better and had an historic season. And nothing’s changed since four years ago or since he got in the league. That’s what makes him so great, is his humility and his ability to just keep working.”

The Warriors are practically spoiled by the brilliance of No. 30, as great as ever at age 30 and in his 10th National Basketball Association season.

Kerr insists Curry is stronger than ever and “at his physical and mental peak.”

“He’s got a great life, doesn’t he?” Kerr said. “I just think that part of what makes Steph great is who he is as a person and what his life is about. He loves life. He takes so much joy out of every single day,” Kerr said. “...

Steph has a joy about him that I think everyone in the building can see and feel, so he brings that and I think you talk about wanting people to have a balanced life and how powerful that can be. I think he’s a prime example of that.”

Curry scored 31 in the first half, finished with his sixth career 50-point game and made 10 or more 3s for the 10th time. The 51 points matched his most at Oracle Arena.

He hit his first five 3-pointers and had the ninth 30-point half of his career, drawing “MVP!” chants all evening long from an adoring home crowd.

Curry shot 15 for 24, 11 of 16 from three-point range and made all 10 free throws, missing his career high of 54 set in February 2013 by three points.

“Some of the shots that he was making, you don’t see that,” Wizards Coach Scott Brooks said. “He’s a special player, a special scorer, a special shooter.

He’s taking 35-foot shots, it’s hard to double team a guy who’s that far out, and he makes them like they’re lay-ups. I’ve never seen anything like it.”

Kerr and Brooks each considered Curry “video-

game” good.

“We are kind of used to it with Steph,” Kerr said before Curry’s latest brilliance. “He’s just so consistent and so lethal.”

Curry hurt his left knee on March 23 just as he had come back from a six-game absence with a right ankle injury. He also missed 11 games last December with a sprained rightankle. AP

San Beda, Lyceum eye Finals rematch

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STEPHEN CURRY dazzles for 51 points in sensational start. AP

LEBRON JAMES flirts with what would have been his 74th career triple-double. AP

JAMES FINALLY TASTES VICTORY IN A LAKER JERSEY P

HOENIX—In his fourth game, LeBron James finally got his first victory as a Los Angeles Laker.

James flirted with what would have been his 74th career triple-double, finishing with 19 points, 10 assists and seven rebounds before sitting out the fourth quarter of a 131-113 victory over the Phoenix

Suns on Wednesday night.

“It feels great,” he said. “It is a win, period, but it feels good to know what we have been doing over training camp and these first few games to continue to get better.”

Lance Stephenson had 23 points, eight rebounds and eight assists, JaVale McGee added 20 points and Kyle Kuzma had 17 for the Lakers. They had seven players in double figures.

The Suns’ Devin Booker had 23 points, seven rebounds and seven assists but left the game in the third quarter with a strained left hamstring. Deandre Ayton, the No. 1 overall pick this year, had 22 points and 11 rebounds.

Los Angeles was without Rajon Rondo and Brandon Ingram for their roles in an altercation with the Houston Rockets on Saturday night. Wednesday night was the first of a three-game suspension for Rondo and a four-game suspension for Ingram.

But the Lakers didn’t miss them in this one, blowing it open with a 44-point second quarter.

Neither team led by more than six points in the first quarter and the Suns were down only 46-41 after Isaiah Canaan’s driving layup with 7:09 left in the half.

But Phoenix committed four turnovers in a 17-2 Los Angeles outburst that put the Lakers up 63-43 on Josh Hart’s running dunk with 3:51 left in the first half.

“That is what we keep harping on. That is what we will continue to harp on throughout the season is our defensive approach,” James said. “How we approach the game, our physicality, our communication and that is what we did in the second quarter.”

Los Angeles outscored the Suns, 44-24, in the second quarter.

“Our defense picked up,” Lakers Coach Luke Walton said. “To start the game our defense was soft. They missed some shots but that was the same thing that happened against San Antonio, but they made shots. We need to get better at that. We need to start games with the same mentality that we started the second quarter.”

Phoenix committed eight turnovers in the second quarter, resulting in 15 Lakers points.

“In the first quarter we had a defensive presence,” Suns Coach Igor Kokoskov said. “We had a couple good defensive possessions and showed some kind of resistance defensively and we had a close game. But in the rest of the game, starting with the turnovers, we were thinking too much.”

The Lakers led, 76-54, at the break and Phoenix never got closer than 16 in the third quarter. AP

NBA RESULTS Atlanta 111, Dallas 104 Brooklyn 102, Cleveland 86 Miami 110, New York 87 Toronto 112, Minnesota 105 Chicago 112, Charlotte 110 Utah 100, Houston 89 Indiana 116, San Antonio 96 Milwaukee 123, Philadelphia 108 LA Lakers 131, Phoenix 113 Sacramento 97, Memphis 92 Golden State 144, Washington 122

OP dogs San Beda University and Lyceum of the Philippines University target an easy route to a Finals rematch against University of Perpetual Help and Letran, respectively, in the semifinals of the National Collegiate Athletic Association Season 94 seniors basketball tournament on Friday at the FilOil Flying V Centre in San Juan City.

The defending champion Red Lions, who finished the elimination round with a league-best 17-1 won-lost record, will try to impose their twice-to-beat advantage over the fourth-placed Altas (11-7) at 4 p.m.

Serving as the Final Four opener is the equally exciting matchup of last year’s Finals runner-up Pirates (15-3) against No. 3 seed Knights (13-5) at 1:30 p.m.

San Beda Head Coach Boyet Fernandez said he has prepared his Red Lions for a potential uprising by the Altas.

The Altas were responsible for tainting the Pirates’ 30-game win in the eliminations, with 6-foot-10 Prince Eze nailing the game-winning bucket in their second-round showdown.

“We know that we’re facing a very good team in the semis. We just have to be ready,” Fernandez said.

In its last elimination assignment last Tuesday, San Beda beat Perpetual Help, 80-72.

San Sebastian’s Michael Calisaan, meanwhile, was named Collegiate Sports Press Corps NCAA Player of the Week Calisaan left a lasting impression in his final game for San Sebastian last Tuesday by leading the Stags to a 91-63 romp of the Arellano University Chiefs.

“Surely, we will miss Michael. His leadership is the team will miss,” San Sebastian Head Coach Egay Macaraya said of Calisaan, who posted 24 points and 12 rebounds against the Chiefs.

Calisaan, who also collected three assists and three steals, was one of the few bright spots for the team and gave the Stags a preview of what they will be missing beginning next season.

The 23-year-old Calisaan was at his best in the middle quarters, where he scored 20 points, including 14 in the third period.

He played a key role as well in second quarter, where San Sebastian dominated Arellano, 35-12, to break the game wide open.

San Sebastian wrapped up its season in sixth place with a 6-12 record. Ramon Rafael Bonilla

Magnolia, Alaska go after playoffs incentives against separate rivals

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AGNOLIA guns for a twice-to-beat advantage in the quarterfinals when the Bolts clash with the TNT Katropa in the Philippine Basketball Association Governors’ Cup on Friday at the Ynares Sports Center in Antipolo City.

The Hotshots (7-2 won-lost) share the top spot with the Barangay Ginebra Gin Kings and Alaska Aces and a victory would grant them one of the four twice-to-beat bonuses in the quarterfinals.

But first, they must hurdle a big test in the KaTropa (4-5), who are in dire need of victories to secure their place in the playoffs. The

game is set at 7 p.m.

In the first game, Alaska also shoots for the playoffs bonus when it takes on NLEX (4-5) at 4:30 p.m.

Magnolia suffered an 88-94 loss to Meralco in Antipolo on October 19, while TNT kneeled to San Miguel Beer, 96-107, in Calasiao, Pangasinan, the following day.

As they try to bounce back from the setback, Hotshots mentor Chito Victolero is now keen on grabbing the incentive in the quarterfinals.

“We have a chance. But we have to prepare for our next two games, Friday and Sunday. It’s hard but there’re no excuses,” Victolero said.

After its match against TNT, Magnolia plunges into action in the Manila Clasico showdown against fellow quarterfinal bonus hopeful Barangay Ginebra on Sunday.

The KaTropa are tied with sister-team Road Warriors in seventh and eighth places and a loss would put them in a dangerous spot at the bottom of the standings.

Ramon Rafael Bonilla

NORTHPORT’S Lervin Flores snakes past San Miguel Beer’s Yancy de Ocampo during their game on Wednesday night won by the Beermen, 114-107.

orts

sMirror

Friday, October 26, 2018

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Super Eagles bag second straight 7’s Football title

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UPER Eagles took home their second consecutive 7’s Football League title after prevailing in an intense penalty shootout with Ghana Football Club recently at the McKinley Hill Stadium.

Ghana thought it was just a minute away from edging its Nigerian counterpart after Sam Adams broke the ice with a 33rd-minute goal.

But Fidelis Nnabuife struck for equalizer in the 49th minute to force the shootout.

The shootout, which was initially scheduled for three rounds, lasted longer until it boiled down to the 10th pair of penalties.

Abou Ibrahim, who seemed aware of Emmanuel Donkor’s tendencies, opted to move a bit to the right just as Donkor was about to launch his penalty.

The move turned out to be a good one as Donkor’s spot-kick attempt went straight to Ibrahim, setting up an opportunity for Super Eagles to win on the next kick.

Lawrence Ikegoruka sent his penalty kick to the top right corner of the goal to give Super Eagles the championship.

In a similar fashion, the All-Star Game in the curtain-raiser also went to penalties with a selection composing of past and present national team players beating the 7’s Football League All-Stars.

A late second-half barrage from the Azkals Legends selection in just a span of 30 seconds canceled out a brace from All-Star Daniel Matsunaga before going 3-for-3 in the spot-kick showdown.

Matsunaga opened account with an eighth-minute goal before completing his two-goal showing with a 40th-minute strike.

But Kevin Ingreso put the Azkals Legends on the board in the 46th minute before Mark Hartmann quickly scored the equalizer in the 46th minute too.

Aly Borromeo, who took over the goalkeeping post from guest player Jeff Blake late into the contest, forced Hamed Hajimehdi to bring his penalty off the post before bouncing out to preserve the Azkals Legends’ lead through Anton del Rosario’s first strike.

Matsunaga still kept the All-Stars in the shootout after answering Stephan Schrock’s penalty, but Hartmann delivered the dagger in the third round of the shootout.

LAM JOINS HUNT

Pinas Cup unfurls at Clark Freeport

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HE Clark Freeport Zone in Pampanga will host for the third straight year the Pinas Cup, the biggest football event in the country.

This year’s Pinas Cup kicks off on Saturday and ends Monday at the Clark Parade Grounds football field with more than 100 teams competing. The event is expected to draw in 7,500 football enthusiasts, including 2,500 players.

Organized by the Manila Soccer Academy in participation with the Philippine Football Federation (PFF), the event gathers clubs from Metro Manila, Ilocos, Tarlac, Laguna, Cavite, Catanduanes, Bicol, Iloilo, Bacolod, Cebu, Davao and Cagayan de Oro. Monty Roxas, director of the Manila Soccer Academy, said the Pinas Cup’s mission is “to promote domestic tourism through football.”

“Clark is the perfect venue for us,” said Roxas, citing its location, available hotels and leisure attractions.

“The infrastructure—airport and highways—as well as the direct flights from the provincial cities make Clark easily accessible to all our participating teams and spectators,” Roxas added.

This year’s Pinas Cup has five 11-a-side, one 9-a-side and one 7-a-side categories.

Roxas will make ceremonial kick on Saturday with Bases Conversion and Development Authority President and CEO Vince Dizon, and Clark Development Corp. President and CEO Noel Manankil.

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AMES RYAN LAM banged in a 28-foot birdie putt on No. 18 for a 67, capping his fightback from four down to a rare spot on top with Jobim Carlos and Australia’s Jack Sullivan in a topsy-turvy third round of the Central Azucarera de Tarlac (CAT) Open at the Luisita Golf and Country Club in Tarlac on Thursday.

First-round leader Elmer Salvador recalled his fierce form and regained the lead with a solid five-under card after 10 holes but fell behind again with a missed green bogey on No. 11 and a threeputt miscue on the 13th for a 69, enabling Sullivan, who shot a 69, Carlos, who saved a 71, and a fired-up Lam to seize control at 10-under 206.

“I’ll just play my usual game and see what happens in the

final round,” said Lam, 30, seeking to finally nail the big one after four runner-up finishes, including at Philippine Golf Tour (PGT) Del Monte last June.

Despite his backside meltdown, Salvador kept the leaders within sight with a 207, while Joenard Rates and American Josh Salah shot identical 68s for 208s, guaranteeing a shootout for the top $17,500 purse in the $100,000 championship serving as the sixth leg of the Philippine Golf Tour Asia sponsored by the International Container Terminal Services Inc. (ICTSI).

“I played relatively good but made a double bogey on No. 9.

When you make a mistake here, it’s hard to recover, so I have to play better and try to keep my game in check tomorrow [Friday],” said Carlos, who blew a two-stroke lead in the face of Salvador’s hot start but birdied the 16th from 10 feet to at least keep a share of the lead.

“I was playing solid but made two bogeys at the back and never recovered,” rued Salvador.

While Carlos and Lam refused to predict the winning score, Sullivan, who hit four birdies against a bogey, said he would need to shoot a 68 to win and become the second Australian

to win in the second season of the region’s newest circuit after David Gleeson topped the kickoff leg in Luisita Championship also here last April.

Last week’s ICTSI Luisita Invitational winner Clyde Mondilla also turned in a 68 and stayed on course for a second straight victory with a 209, while Michael Bibat likewise produced a 69 and remained in contention at 210 in one of the most crowded leaderboards heading to the final round of a PGT Asia event.

But Jhonnel Ababa, winner of PGT Asia Forest Hills last July, missed closing in on the leaders with a wobbly finish, bogeying No. 17 and holing out with a 6 on the closing par-4 hole for a 73.

He slipped to joint ninth at 211, five strokes behind, with Ira Alido and Thai Wisut Artjanawat, who both shot 69s, Aussie Tim Stewart, who carded a 71, Keanu Jahns and Korean-American Seungjae Maeng, who matched par 72s, and Thai Nirun Sae Ueng, who fumbled with a 73.

But no lead is safe and no deficit is too big to overcome at Luisita with Lam charging back from four down halfway through with a strong start and a big finish when things seemed to go wrong for the unheralded pro seeking to hit paydirt this week.

LIFESAVERS READY FOR P.S.L. WARS G

Kaya FC pays homage to Alcantara OR Kaya Football Club (FC)-Iloilo, winning the inaugural Copa Paulino Alcantara is the best possible way it can pay homage to one of the province’s most beloved sons.

Jing Jamlang of Kaya FC pointed out that Ilolio was where the late great FC Barcelona legend was born that it’s only appropriate for the club to go out of its way and win the tournament named after the former national team stalwart.

“Paulino Alcantara was born in Iloilo, and if we win this, it would be huge for Iloilo fans,” Jamlang told Tuesday’s Philippine Sportswriters Association Forum at the Tapa King Restaurant in Farmers Plaza in Cubao as he talked about the coming final between Iloilo’s official football club against Davao Aguilas FC. “This is family and we fight for each other, and that’s the reason why there’s a lot of success within the club,” Jamlang said.

But the Aguilas are out to spoil Kaya in its championship bid as a chance to represent the country in the group stages of the Asian Football Confederation (AFC) Cup early next year is also at stake in Saturday’s winner-

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JAMES RYAN LAM (above) fights back from four shots down as Jack Sullivan stays in contention after the third round on Thursday.

take-all match at the Rizal Memorial Football Stadium.

“We’re looking forward to Saturday’s game.

It’s our main objective to qualify to the AFC Cup, so we’ll do everything we can to win,” said Davao Aguilas’ Darrel Cheng, who also graced the weekly public sports program presented by San Miguel Corp., Tapa King and the Philippine Amusement and Gaming Corp.

A Spanish-Filipino, Alcantara was born in Concepcion, Iloilo, in 1896 and at three years old, moved to Barcelona, Spain, where he established a career in football playing as star forward for powerhouse FC Barcelona.

Alcantara, who died in 1967, held the club record for most goals scored which was broken recently by Lionel Messi.

The direct descendants of the late football great, who are all based in Spain, has given the legal rights to use Alcantara’s name for the tournament in his honor, according to Philippine Football League’s Nevin Reyes.

The final stage was set between Kaya-FC and Davao Aguilas FC after both disposed their respective semifinals opponents on Sunday.

ENERIKA-AYALA will be coming in with a lot of confidence in the Philippine Superliga (PSL) All-Filipino Conference.

Head coach Sherwin Meneses said the team’s adjustment period is finally over and it’s now time for them to join the heavyweights in a wide-open race to the title of the women’s club tournament bankrolled by Isuzu, Sogo, Senoh, Asics, Mikasa, Mueller, UCPB Gen, Bizooku and Genius Sports.

Meneses said they didn’t boost their lineup with a blue chip recruit, but Angeli Araneta, Marivic Meneses, Mikaela Lopez, Fiola Ceballos and Patty Orendain will all return with better

cohesion and familiarity.

Of course, backline defenders Kat Arado and Bia General will also be back together with Bang Pineda, April Hingpit, Carol Cerveza, Laizah Bendong, Sheeka Espinosa, Marlyn Llagoso and Jamie Lavitoria.

“The adjustment period is over and it’s now time for us to come up with the result,” said Meneses, hoping to transform their great off-season preparation into a successful return to the semifinals after a long absence.

AUSSIE BETTEN BRINGS ACT TO SUBIC 5150 RACE

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USTRALIAN Sam Betten gears up for another crack at an Olympic distance triathlon series crown on a course he is very familiar with as he heads the elite field vying in the inaugural Black Arrow Express 5150 on November 4 in Subic Bay. Back to what has long been considered as the country’s triathlon capital, the 6-foot-4 Betten is actually gunning for a fourth straight 5150 championship after completing a three-peat in wet conditions last year, making him the man to beat in the upcoming 1.5-km swim/40-km bike/10km run event.

“Subic Bay is one of my favorite places in the world to race in. For me, this is a great triathlon location,” said Betten, who, however, expects a tougher challenge from his fellow pros and race condition with

forecast of sunny weather on Black Arrow 5150 weekend.

Fellow Aussie Mitch Robins heads the early roster of challengers that includes Jakub Langhammer of the Czech Republic and American Tim Linn with a host of others tipped to join the title hunt in the event organized and produced by Sunrise Events Inc. (SEI) and sponsored by Black Arrow Express.

The event, backed by venue hosts Subic Bay and ACEA Subic Bay and major sponsors David’s Salon,

“We had a great off-season and our chemistry had improved. I hope we can carry the momentum all the way to the All-Filipino Conference,” he added.

The league opens on Tuesday at the Filoil Flying V Centre, while the formal opening ceremony will be on November 3 at the Ynares Sports Center.

There will be a Fans’ Day this Sunday at the Taguig Lakefront Community Park in Lower Bicutan, Taguig City.

Generika-Ayala rolled the dice early this year when it hired Meneses to replace former

national team head coach Francis Vicente.

With very limited time to prepare and instill his system, Meneses led the Lifesavers to a seventh-place finish in the Grand Prix before emerging fifth in the Invitational Conference.

This time, Meneses is gunning for no less than a semifinal spot.

“Since the time I assumed, we’re improving every conference,” he noted.

“Our team is very motivated to make it to the semifinals this time. There’s no more excuse since we have been together for one whole year. So, it’s now time to play hard and deliver the result.”

Pioneer Insurance and Wicked Active Gear, also serves as SEI’s final triathlon on its milestone 10th year of staging the premier endurance race in the country.

For details, visit www.blackarrowexpress.5 150philippines.com.

Triathletes from 21 countries are competing in the event, including seven from Australia, six from Great Britain, five from the US and four from Japanese. Three bets each from France and Hong Kong are also vying in the event, which also drew participants from Belgium, Canada, Denmark, Guam, Guatemala, India, Italy, New Zealand, Malaysia, Norway, Russia, Portugal and Vietnam.

Other titles to be disputed are the Asian Elite and various age categories along with relay events for male, female and mixed.

THE 6-foot-4 Sam Betten is gunning for a fourth straight 5150 championship.

BANNED FOR LIFE L Sports BusinessMirror

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| Friday, October 26, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Jim Vertuno The Associated Press

ANCE ARMSTRONG’S former team manager has been given a lifetime ban from cycling for his role in a doping program that helped Armstrong win the Tour de France seven times.

Johan Bruyneel had been serving a 10-year ban. In a letter posted on social media on Wednesday, Bruyneel announced the Switzerland-based Court of Arbitration for Sport (CAS) had extended the ban for life.

The United States Anti-Doping Agency in 2012 investigated and exposed a doping system used by Armstrong’s US Postal Service teams when Bruyneel was manager. Armstrong was later stripped of his Tour de France wins.

Bruyneel’s letter struck simultaneous tones of regret and defiance.

“I want to stress that I acknowledge and fully accept that a lot of mistakes have been made in the past. There are a lot of things I wish I could have done differently, and there are certain actions I now deeply regret,” Bruyneel wrote, adding “We were children of our era...we didn’t always make the best choices.”

But he also insisted the legal process against him was unfair, arguing that as a Belgian living in Europe, USADA had no jurisdiction to open a case against him or issue sanctions. USADA initiated the original 10-year ban, which the World Anti-Doping Agency (Wada) appealed to the CAS to make it longer.

US Anti-Doping Agency Chief Executive Travis Tygart welcomed the lifetime ban. He also noted CAS gave former US Postal Service team doctor Pedro Celaya a lifetime ban and extended a ban for former team trainer Jose “Pepe” Marti.

“While it’s been an arduous effort to fully expose the truth, our job is to pursue justice even when the road is long and winding, because that’s exactly what clean athletes expect and deserve,” Tygart said.

Wada General Director Olivier Niggli said the decision was important “for athletes and all others around the world who care for clean sport and the integrity of cycling.

It is the result of a long process, which was resisted at every turn by these men, who, by their actions, did a great deal of damage to their sport.”

Earlier this year, Bruyneel also was ordered by a US Court to pay $1.2 million in damages in a federal civil lawsuit related to the doping program. Armstrong reached a $5-million settlement with the government.

That lawsuit was brought by former US Postal Service team member Floyd Landis, who helped expose the doping program that included using performanceenhancing drugs and blood doping. Landis also was stripped of his 2006 Tour de France victory for steroid use.

LANCE ARMSTRONG’S former team manager Johan Bruyneel gets a stiff penalty for his role in a doping program that helped Armstrong win the Tour de France seven times. AP

ACCELERATE FAVORED Accelerate leads a 14-horse field for the Breeders’ Cup Classic, which will offer the five-year-old a rematch against West Coast in a marquee race that’s missing unbeaten Triple Crown winner Justify. AP

Barcelona, Dortmund remain perfect in Champions League G ENEVA—Barcelona and Borussia Dortmund impressed again on Wednesday to join Juventus as the only teams with three straight wins midway through the Champions League group stage.

In two clashes of teams with perfect records, Barcelona beat Inter Milan, 2-0, and Dortmund dismantled Atletico Madrid in a 4-0 rout.

Liverpool went back on top of an eventful Group C, beating Red Star Belgrade, 4-0, while Napoli twice led at Paris Saint-Germain until Angel Di Maria’s stoppage-time shot earned a 2-2 draw.

Dortmund delivered the result of the night after defending a one-goal lead from sustained pressure in the second half. The Bundesliga leader added three late goals as Atletico’s tempers and famously resolute defense frayed.

Lionel Messi was missing for Barcelona after fracturing his right arm in a Spanish league game, but his replacement Rafinha opened the scoring in what proved to be a comfortable evening at Camp Nou. Barcelona’s win at least kept Inter in range for the other Group B teams, PSV Eindhoven and Tottenham, who drew, 2-2, in the Netherlands to each earn a first point.

Tottenham’s Champions League flaw of conceding late goals showed again as PSV captain Luuk de Jong scored an 87th-minute leveler.

Minutes earlier, Tottenham goalkeeper and captain Hugo Lloris was sent off for a foul on PSV’s Mexico winger Hirving Lozano.

Thierry Henry’s Champions League debut as a coach

saw Monaco draw, 1-1, at Club Brugge, leaving both teams with one point in Group A which Dortmund leads.

Here’s how Wednesday’s action unfolded: Atletico Coach Diego Simeone has long fashioned a team in his own tough image, and in eight years had never seen such a heavy defeat.

Dortmund deservedly led at halftime, though Axel Witsel’s 38th-minute shot took a big deflection to beat goalkeeper Jan Oblak.

Witsel was targeted by forward Diego Costa in a running battle through the second half as Atletico failed to turn its chances into goals. Costa was one of five Atletico players booked, triggering a UEFA disciplinary case.

Dortmund’s three late goals came from the bench, with two from Portugal midfielder Raphael Guerreiro and one from new England international Jadon Sancho, who had replaced American Christian Pulsiic. Guerreiro’s second and Dortmund’s fourth stemmed from a slack pass in the 89th by Atletico left-back Filipe Luis.

Messi sat with his son Thiago to watch Barcelona ease past Inter Milan and take control of Group B. Messi had his right arm in a fabric sling knotted at his left shoulder as he watched Rafinha score in the 32nd and defender Jordi Alba seal the game in the 83rd.

Barcelona’s expected path to the round of 16—which can be sealed in Milan on November 6—was also eased by the early kickoff draw between PSV and Tottenham.

Tottenham has now conceded four goals after the 85th minute in its three Group B games, including Messi’s second in a 4-2 win at Wembley this month.

AN injured Lionel Messi sits in the stands with his son Thiago prior to the Champions League Group B match between Barcelona and Inter Milan in Barcelona on Wednesday. AP

COLLEGE HOOPS CLEANUP BEGINS A

FEDERAL jury found three men guilty of fraud charges for channeling secret payment to the families of top-tier recruits to influence their choices of schools, apparel companies and agents.

Wednesday’s verdicts place the blame firmly on the men for exposing the universities to NCAA sanctions, essentially portraying the schools as victims.

The NCAA may view the verdict differently.

In fact, the organization that oversees college athletics may now have a deeper reach when it goes after rogue programs. The decision essentially turns amateurism into federal law, possibly giving future NCAA bylaws more bite and ability to dole out punishment.

“I think anybody who breaks the rules in any aspect of our society, you’d like to see them held accountable,” Duke Coach Mike Krzyzewski said. “If the jury found them guilty of breaking rules, then they should be held accountable. But yeah, that’s why we have a jury system and that’s good. It’s always good when, if someone does something wrong, they’re found out, and they’re held accountable for it.”

Former Adidas executive James Gatto, business manager Christian Dawkins and amateur league director Merl Code were convicted of conspiracy to commit wire fraud for funneling money and recruits to Louisville and Kansas.

All three will be sentenced on March 5, but the corruption case doesn’t end there. Former National Basketball Association star and Auburn assistant Chuck Person will stand trial in February. Former assistant

coaches Emmanuel Richardson of Arizona, Tony Bland of Southern Cal and Lamont Evans of Oklahoma State go to trial in April.

All are accused of funneling apparel company money to recruits and their families.

They could be facing a difficult defense with Wednesday’s verdict now that a precedent of fraud has been set. So could the schools.

The first trial revealed text messages and recorded conversations between coaches and the fixers, though nothing to definitively connect them to paying recruits.

The prosecution argued the schools, which receive federal funds, were not aware of the secret payments, including $100,000 promised to top recruit Brian Bowen Jr. When put on the stand and facing long prison sentences, the four assistant coaches may tell a different story. At minimum, they will certainly pull back the curtain even further on what had been college basketball’s worst-kept secret.

“I hope that the truth prevails and I mean that with all sincerity,” Virginia Coach Tony Bennett said. “There’s so much stuff being floated out there, I hope what’s true will be found out if there’s stuff going and in the long run it will make a difference and help the game.”

The game has already been blemished, first with the arrests of 10 people in September 2017 through the three-week trial that concluded on Wednesday.

More than two dozen schools have been ensnared since the arrests a year ago, for everything from paying

for meals to six-figure payments to recruits’ families.

Duke, Oregon, North Carolina State, Creighton and Texas were among the schools mentioned in testimony during the trial. More schools and coaches could be caught up when the next two trials take place, each day of testimony becoming another round of the “who’s next” that played out in New York over the past three weeks.

The NCAA has already adopted a reform package to curb some of the seedy recruiting practices and could be headed toward more reforms now that a legal precedent of federal fraud has been set.

“There’s been many things throughout my 30 years, however many it has been, when things came out, ‘this will be awful for college athletics’ and 10 years later that wasn’t as awful at all,” Kansas Coach Bill Self said. “We may be better off for it.”

As the trials move forward and more information comes out, the depth of the pay-to-play corruption could become clearer. More schools could be involved or, as some coaches have said, the shady recruiting practices could be limited to a few bad seeds at the top.

“I think it’s easy to paint all of college basketball with a dark brush and that’s not fair; there’s lot of great kids and great coaches and terrific schools involved in it,” Big 12 Commissioner Bob Bowslby said. “Are there bad operators out there? Yeah, there are bad operators out there. Some of them are inside schools, some of them are outside schools, but they’re not the vast majority. And, at this point, I don’t know who it is and who it isn’t because the NCAA has not run its process yet.” AP

All-powerful God

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LL-POWERFUL God, You can do all things. We place our hope in You and pray: Teach us Your wisdom. Strengthen our faith in times of struggle, weakness or adversity. Reveal Yourself to all who seek You. Give patience and understanding to those who teach or care for young children. May God be gracious to us, shine the light of grace upon us, and bless us with peace. Amen.

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

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

Life BusinessMirror

By KatHryn SHattuCK New York Times News Service

‘W

HAT in the world is the matter with Jane Fonda?”

President Richard M. Nixon asks in a recording from September 19, 1971, at a time when Fonda was vehemently protesting the Vietnam War. “I feel so sorry for Henry Fonda, who’s a nice man. She’s a great actress. She looks pretty. But boy, she’s...often on the wrong track.”

So begins HBO’s Jane Fonda in Five Acts, in which director Susan Lacy peels back the layers of this formidable actress and activist in a way that might surprise: by focusing primarily on the men in her life.

It certainly surprised Fonda.

“I had no idea how she was going to structure it, and when it opened on the tape of Nixon’s voice, I just thought that was so brilliant,” she said. Fonda gets her own act, of course. But so does her father—the emotionally remote “national monument,” as she calls him—who set the stage for his daughter’s agonizing doubt about her body and abilities. As do her three former husbands: French director Roger Vadim, political activist Tom Hayden and media mogul and philanthropist

Jane Fonda isn’t letting PHOTOGRAPHED BY EMILY BERL FOR THE NEW YORK TIMES

the curtain come down any time soon

Ted Turner.

Jane Fonda in Five Acts moves from Fonda’s painful childhood, including her father’s affair and her mother’s suicide, to chart her trajectory from an unambitious ingénue to an Oscar winner for Klute and Coming Home. It also grapples with what she has called her biggest regret: her 1972 visit to North Vietnam, which resulted in a photo of her seated on an anti-aircraft gun, earning her the nickname Hanoi Jane.

These days, when she isn’t lording it over her friend Lily Tomlin in their Netflix comedy, Grace and Frankie, Fonda, 80, is fixated on getting out the vote for the midterm elections.

“I’ve been around a long time, and this is the most important election that I have ever experienced,” she said during a telephone interview from Los Angeles.

Here are edited excerpts from the conversation.

Your public persona is that of an independent woman with little need for male support.

Did you question Lacy’s decision to define you by your men?

No, because for a good part of my life, I was very much defined by the man I was with. Not 100 percent, but

THE HOUSE WELCOMED A NEW LADY D4

Friday, October 26, 2018

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I would be drawn to alpha men who were fascinating and could bring me into a world that I didn’t know.

And I felt that if I wasn’t with a man like that, that I was nobody. The writing of my memoir (My Life So Far, published in 2005) made me realize that I can stand on my own two feet without a man to define me. I’m a quintessential late-bloomer.

You never felt that you lived up to your father’s expectations— that he thought you were fat, that you made him ashamed.

When did you stop seeing yourself through his eyes?

I think when I married Vadim in my 20s, and then I became Vadim’s girl. I wanted him to teach me how to be a woman, and he taught me to be a female impersonator. Oh, it’s kind of a flippant way to describe my trying to be what he wanted me to be. But I don’t regret the marriage at all.

Is that when you came to believe in your own worth and beauty?

No, no, no, that didn’t happen until I was in my 60s. I’m still a work in progress. You know, when your father doesn’t

ContinueD on D3

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Friday, October 26, 2018

Society BusinessMirror

www.businessmirror.com.ph

z

Today’s Horoscope

CHAMPAGNE Taittinger is one of the few remaining family-owned and -operated Champagne houses: (clockwise from left) Taittinger Brut Reserve, a nonvintage Champagne produced with an exceptional proportion of first-press wines; Taittinger Nocturne Sec, in the Citylights bottle that glows in the dark; Taittinger Comtes de Champagne Blanc de Blancs 2006, produced only in exceptional years and only from first-press wines.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Seth MacFarlane, 45; Cary Elwes, 56; James Pickens Jr., 64; Pat Sajak, 72.

HAPPY BIRTHDAY: Doors will open but so will choices that aren’t easy to make. Common sense will be required if you are going to navigate your way without taking on too much or overdoing it in one way or another. Keep your finances in order and make living a healthy lifestyle your priority. Partnerships will face unexpected changes that will warrant understanding and compassion. Your lucky numbers are 3, 10, 23, 27, 32, 39, 41.

a

ARIES (March 21-April 19): Use what you have learned in the past to get ahead now.

Combining your skills and knowledge to fit into a position that is fast growing and in demand will help stabilize your future and ease your stress. ★★★★

b

TAURUS (April 20-May 20): You’ve got more options than you realize. Look for the opportunity that allows you to do the things you enjoy doing most. Sometimes it’s not about money; it’s about keeping your sanity. ★★★

c

GEMINI (May 21-June 20): Think before you act. Emotions will rise to the surface, putting you on shaky ground when dealing with matters that concern your income. Get the work done before you take on personal situations or past grievances. ★★★

d

CANCER (June 21-July 22): Find a way to improve your personal life, image and relationships. Be innovative and eager to start something new and exciting. Don’t live in fear of what might happen when you should be making things happen. ★★★

How to enjoy Champagne FERMENTATION CECILE MAURICIO

cecile.mauricio@gmail.com

T

HE evening was off to a good start. There was gin and tonic with the salad—shredded lettuce, diced shrimps and singkamas with a creamy, lemon grass-tinged dressing, spooned onto freshly popped shrimp crackers. And then we had everything with Champagne. Duck pancakes—shredded itik duck meat and wisps of carrot, bound together with a sweet-tart sauce and tucked into fresh tortilla pockets. Fillet of tilapia cooked in coconut milk on a bed of malunggay leaves.

Lechon kawali with liver sauce. Nicolas Delion, Champagne Taittinger export director, was grinning broadly. It was his first encounter with Filipino cuisine at Sentro 1771. He liked everything, he said, and the deep-fried pork belly (lechon kawali) was the best—with the Taittinger Nocturne Sec. Just the day before, we had the same Champagne Nocturne with foie gras poêlé, raspberry and toasted brioche at Mirèio, the brasserie at Raffles, known for its Provençal-inspired menu. It was then that Nicolas had presented the other Taittinger cuvées at the well-attended dinner that included Champagne enthusiasts and the new French Ambassador to the Philippines, Nicolas Galey.

The Taittinger Comtes de Champagne Blanc de Blancs 2006 was undoubtedly the star of the evening, but the other Champagnes were not eclipsed: Taittinger Brut Millesimé 2012, Taittinger

Prestige Rosé NV, Taittinger Brut Reserve NV and the Taittinger Nocturne Sec NV. Each one stood out on its own—paired from starter to dessert—with the fresh, vivid flavors of Chef Hervé Clair’s menu.

Champagne may be the most underrated food partner. And it’s not just for toasting, too. Yes, the bubbles look pretty in the long, tall glass called the flute, but while the shape of the glass allows you to enjoy the bubbles, you do miss out on the wine’s gorgeous aromas. It’s perfectly alright, even better, to drink it from a regular white wine glass. But won’t the bubbles dissipate faster in a wide-mouthed glass? If that happens, it only means you’re drinking too slow.

Remember, too, that Champagne comes in many different styles and can be sweet or dry (not sweet) and thus can be labelled from Brut Sauvage (very dry) and Brut (dry), to Sec, Demi-sec and Doux, the sweetest, in ascending levels of sweetness. There is rosé Champagne made from blending red and white wines. Non-vintage (NV) Champagne is made from a blend of grapes (only Chardonnay, Pinot Noir and Pinot Meunier) from different years and matured for at least 15 months on the lees. Vintage Champagne must come from grapes harvested from a single year and must be aged for at least three years. Blanc de Blancs Champagne is made entirely from Chardonnay grapes and is the longest lived (and most expensive) of all Champagnes. (Blanc de Noirs Champagne is the opposite, made only from the red grape varieties Pinot Noir and Pinot Meunier.)

Which style to drink is as much about preference as it is dependent on how much one is willing to spend. Although I love a Blanc de Blancs, and an occasional rosé Champagne, my wallet allows me also the occasional Brut NV, the least expensive style. Most Brut Champagne also come in the half bottle size, making it even easier on the wallet. The Taittinger Brut Reserve NV, for example, is available in the small, 375-ml bottle. But for versatility and price point (and

sheer fun, too, because the Nocturne Citylights bottle glows in the dark), I’d turn to the Taittinger Nocturne Sec. Champagne Sec is the style that allows one to “feel” the sweetness in the wine. The Nocturne, made with 40 percent Chardonnay and 70 percent of the two Pinots (Noir and Meunier), is on the lower end of the Sec sweetness scale, making for a rich, creamy, barely-there-sweetness experience, capped by those amazing bubbles. The Taittinger Nocturne Sec with pan-seared foie gras is a classic; with the lechon kawali and tilapia in coconut milk, it was absolutely rock ’n roll.

I’ve also had the Nocturne in an impromptu “picnic” in my hotel room, close to midnight, after a long flight with airport-bought cheese and crackers, drank in the water glasses I took from the bathroom.

The Taittinger Prestige Rosé, I preferred (more than the red wine) with the steak at one dinner at I’m Angus. My precious bottle of the Comtes de Champagne Blanc de Blancs 2002, I drank three years ago, at the beach while watching the sunset.

Every moment with Champagne is special and worth remembering. And this is how Champagne is best enjoyed—not overly chilled, not necessarily in a flute, not always at dinner, not always to celebrate something, not always with oysters or foie gras, but always with the people you like and most certainly with the person you love.

VINOFILE CHAMPAGNE Taittinger is available at all Säntis Deli stores: n Taittinger Brut Reserve NV – P3,060 n Taittinger Brut Reserve NV (375ml/half bottle) – P1,618 n Taittinger Nocturne Sec NV – P3,121 n Taittinger Prestige Rosé NV – P3,740 n Taittinger Brut Millesimé 2012 – P3,740 n Taittinger Comtes de Champagne Blanc de Blancs 2006 – P9,901. n

e

LEO (July 23-Aug. 22): Listen to grievances and respond with compassion, but don’t feel the need to take over. Offer solutions, but do not take on a task that doesn’t belong to you, or you will end up being accused of meddling. ★★

f

VIRGO (Aug. 23-Sept. 22): Share your emotions with the people you love or are concerned about. Your words will have an impact on what others do and say. Personal growth and change will lead to greater happiness. Romance is highlighted and will improve your life.★★★★★

g

LIBRA (Sept. 23-Oct. 22): Responsibilities will mount if you let others take advantage of you. Learn to say no before you end up exhausted. Plan to take time out to relax and enjoy the company of someone who shares your interests. ★★★

h

SCORPIO (Oct. 23-Nov. 21): Keep in mind what others may be going through before you make a snap decision or judgment call. Patience will be necessary if you are going to resolve pending problems. Use your imagination when trying to solve a dilemma. ★★★

i

SAGITTARIUS (Nov. 22-Dec. 21): Keep situations in perspective, even if someone uses manipulative tactics to throw you off guard. If someone overreacts, walk away. Deception and disillusionment are apparent when dealing with friends, peers and relatives. ★★★

j

CAPRICORN (Dec. 22-Jan. 19): Why wait?

The time is right to push forward with your plans. Network and participate in events that will broaden your outlook and help you expand your friendships and associations with like-minded people.

Personal change will make you feel good. ★★★★★

k

AQUARIUS (Jan. 20-Feb. 18): Work quietly behind the scenes perfecting whatever it is you want to accomplish. The less you deal with outsiders, the easier it will be to finish what you start. ★★

l

PISCES (Feb. 19-March 20): Keep your emotions in check and your thoughts on being productive. Refuse to let what others do stand between you and the success you deserve. A personal gain is heading your way, and travel plans and educational pursuits are favored. ★★ BIRTHDAY BABY: You are brave, outspoken and adaptable.

You are influential and proactive.

‘auto suggestion’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Army prayer?

6 Dastardly guy 9 Healthier 14 “It’s been ___ pleasure...”

15 Ginger drink 16 Instruct morally 17 Union members’ enemies 18 Lament loudly 19 Coffee bar option 20 Stolen auto victim’s lament?

23 Dead set against 24 Kind of American or son 25 Go bad 28 “___-di-dah!”

29 100 pounds x 20 30 More than satisfy 32 Champs Elysees eateries 34 Name on elevators 35 Why the auto no longer votes?

41 Yellow stick 42 Place for pro Ducks 43 Beach pickups 47 Supped

48 Swimming distance 51 Gp. with doctors 52 Cutting in carpentry 54 Common pop 55 16-year-old’s activity?

58 Chop in a kitchen 60 Social-page word 61 Provide a big address 62 Dress to impress 63 Boxer’s “Back off!”

64 Pronounce 65 Possessed, biblically 66 Eyelid problem 67 Doesn’t just want DOWN 1 Mathematician Blaise 2 Mysterious stuff 3 Serious shortfall 4 Jewish leader 5 “All ___ being equal...”

6 One of a clicking pair 7 Floating on high 8 Wreck remains 9 Footballer’s wear

10 11 12 13 21 22 26 27 29 31 32 33 35 36 37 38 39 40 44 45 46 48 49 50

Sandler of films Highbrow bookish types Juvenile newt Nine-grain alternative Go ___ the deep end Eggs, in science class “Neur” stick-on Tracy’s Trueheart ___ kwon do Very small quantity Anagram of colt Curative place British blackjack Class reunion attendee Celebrated Certain citrus garden “Hands off me!”

Suffix with “serpent” Express agreement Slangy turndown Playground staples Find Winged Skin removers

53 54 56 57 58 59

Like gas that just sits there “A la” follower Chills, as 54-Across Sentence part Dashboard inits.

CPA’s suggestion

Solution to yesterday’s puzzle:

Show BusinessMirror

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Friday, October 26, 2018

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From Luis to Adrian Romina’s Carlos (que horror!) and together, they have a daughter, Margaret.

Romina then gets married to Robert and have a daughter, Cassandra. Things get even weirder when Daniela and Carlos return to get their share of the company that is now run by Robert and Romina.

While the plot may be loopy and convoluted for some, the soap is actually a hit and is lording over the ratings for the network. No small thanks, of course, to the compelling performances by its stars, especially Adrian’s. nnn THE viewing experience of SKY subscribers receives a boost as the service launches its all-new SKY On Demand box that enables access to HD cable TV and streaming from Netflix, YouTube, and its very own online streaming service for subscribers, SKY On Demand—all from the same box.

With the SKY On Demand box, subscribers can enjoy premium channels like HBO, Cinemax, Fox Sports, Food Network Asia and Discovery Channel, as well as exclusive channels on SKYcable like Cinema One and Metro Channel. Meanwhile, when they want to enjoy shows on either Netflix or YouTube, they can easily switch to their preferred platform with just one press of a button via the built-in access on the remote control. On top of this, subscribers can catch up on their favorite local and foreign cable shows using the SKY On Demand app on the new box.

Besides the built-in apps, subscribers can enjoy the many benefits of the SKY On Demand box.

Monitoring a different show while watching another channel on the same TV is made possible with the new picture-in-picture (PIP) mode, so subscribers can browse other content on their TV screen without missing out on the show they’re watching.

Subscribers can also take advantage of the multifunction personal video recorder feature so they can record multiple shows they would like to catch on their preferred time. Another feature is the SKY On Demand Box Remote app that enables subscribers to stream cable channels and do private listening so they can watch shows on TV without distracting other family members at home. The app is available for download on the App Store and Google Play.

The SKY On Demand box is initially available in Metro Manila for as low as P1,999. More information is available at www.mysky.com.ph/sodbox. n

GAB FAB JET VALLE

@jetvalle

T

HERE is a scene in Mike de Leon’s Citizen Jake that has remained in my mind. Even months after I saw the film, I clearly remember the scene when horse caretaker Jonie (played by Adrian Alandy, formerly known as Luis Alandy) breaks down by a staircase, his betrayal made known to his childhood friend Jake (Atom Araullo). You can see it in every fiber of Adrian’s body when he made the painful realization that he’s just a servant to Araullo’s master.

It was a performance of Adrian that resonated with shame, fear, inequality, pain and outrage. It boggles my mind why he isn’t nominated for any award for that performance. He deserves to land more acting gigs if you ask me.

That’s why I am delighted to learn that Adrian is now part of the new afternoon soap Kadenang Ginto on ABS-CBN. Kadenang Ginto is an intense family drama that shimmers with love but is tainted by hate. Adrian plays Carlos, the struggling but ideal boyfriend of Romina (Beauty Gonzalez). They were set to wed but the day before their wedding, Romina gets raped by an unknown man—a crime that will change their lives forever.

Carlos breaks up with Romina unable to handle the tragedy, even blaming Romina for what happened.

But Romina’s woes ain’t over. Alone and abandoned, she finds herself with child as a result of the horrific rape and finds refuge in Robert (Albert Martinez), the owner of the company she works for.

They will eventually become lovers, but Daniela (Robert’s daughter played with aplomb by Dimples Romana) will get in their way and do everything to tear them apart. Alas, Daniela is unsuccessful in her schemes and eventually runs away ending up with

ADRIAN ALANDY

GMA wins anew at the 2018 Namic Emma Awards GMA, through its flagship international channel GMA Pinoy TV, brought home two more awards in the 2018 National Association for MultiEthnicity in Communications (Namic) Excellence in Multicultural Marketing Awards (Emma) on top of its induction to the first-ever Emma Top 5 Wall of Distinction.

In the awarding held on October 16 in New York, GMA Pinoy TV was the lone Philippine network to be recognized in the Wall of Distinction for proving its “commitment to excellence in multicultural marketing for winning the most Emmas year after year since 2013” joining an elite group of some of the biggest media companies such as HBO, Univision

Communications, Comcast NBCUniversal, and BET Networks.

GMA Pinoy TV also bagged first place for Becoming Pinoy: Amanda Bernardo under the Marketing Tactics: Content Marketing category. The GMA Pinoy TV-produced interstitial Becoming Pinoy is a series that profiles Filipinos born and raised in different cultures, and those of mixed ancestry.

The winning episode, which was posted online, featured the story of immigration lawyer Atty.

Amanda Bernardo who defends people with deportation issues.

“We are pleased to be honored this year with this award from Emma. The citation for

Becoming Pinoy is especially meaningful as it came just as we are celebrating the 30th FilipinoAmerican Heritage Month. We share this honor with the members of the Filipino-American community who have been fighting for diversity and inclusion,” said GMA Network First Vice President and Head of International Operations Joseph T. Francia.

Meanwhile, “#SikatKaKapuso” won second place in the Marketing Tactics: Social Media category. The GMA Pinoy TV-produced event “Sikat Ka, Kapuso,” which took place in New Jersey and Toronto in April 2018, was headlined by top GMA stars Dennis Trillo, Jennylyn Mercado, Lovi Poe, Alden

Richards, Betong Sumaya and Dingdong Dantes. The show aimed to bring Filipinos abroad quality Filipino entertainment. With the artists having substantial social-media following, online promotions played a huge part in the success of the event. “This award is a tremendous boost to our digital marketing efforts as we endeavor to engage with our various target audiences through multiple touch points,” Francia added.

Since its launch in 2005, GMA Pinoy TV has been consistently recognized by Namic for its noteworthy marketing tactics using various media outlets that have resulted in better engagement with the channel’s carriers and subscribers.

FROM left: Namic Senior Manager Susan Waldman, GMA First VP and Head of International Operations Joseph Francia and GMA International Consultant Grace Labaguis

Rush’s wife testifies actor wept denying allegations SYDNEY—The wife of actor Geoffrey Rush cried as she told a Sydney court on Wednesday how he had wept and curled up in the fetal position following newspaper allegations he had behaved inappropriately toward a female costar.

Rush himself also admitted to the court he may have described the costar, Eryn Jean Norvill, as “yummy,” but denied this was accompanied by inappropriate hand gestures.

Rush’s wife Jane Menelaus, who’s also an actor, wept as she appeared in the witness box at Sydney’s Federal Court, where her Oscarwinning husband is suing the publisher of Sydney’s Daily Telegraph newspaper, and its

journalist Jonathon Moran, for defamation.

The Telegraph’s articles in November last year referred to an allegation Rush behaved inappropriately toward his costar—later revealed to be Norvill—during the Sydney Theatre Company’s production of King Lear in 2015 and 2016.

Menelaus said Rush held her and cried after he saw the first of two Telegraph articles and said: “This has destroyed everything.”

He became uncharacteristically quiet, was “quite fetal at times on the bed,” couldn’t sleep and groaned every morning, Menelaus told the court.

“For 11 months we’ve been going round and round in circles, trying to understand why someone would hate us so much,” she said on day three of the hearing.

Rush, 67, denies the allegations against him, and argues the paper made him out to be a pervert and a sexual predator.

The paper’s publisher, Nationwide News, and Moran are pleading a defense of truth and Norvill—who didn’t speak with Moran for the articles—has agreed to give evidence.

Rush, during cross-examination earlier on Wednesday, said he might have told Norvill she looked “yummy” during rehearsals but denied

suggestions he’d done this while licking his lips, sticking out his tongue and making groping gestures before her torso.

“Yummy has a spirit to it because we are about to go into—most of our scenes together are going to be very dramatic and harrowing, this is a good start,” Rush said in response to questions from defense lawyer Tom Blackburn.

He denied suggestions he touched Norvill’s lower back under her shirt backstage and deliberately touched or moved his fingers along her breast during a scene where he carried her.

Rush said he wanted in that moment to “feel

the silhouette or the halo of her torso...that she is no longer alive” but as he caressed down “it wasn’t at breast level, it was down torso level.”

Menelaus said her husband had been “totally bamboozled” about what someone could have said about him when he learned that the Telegraph would run their first story about the allegations.

She said he was constantly scanning the internet for what people said about him, and worried his adult children believed the articles and didn’t love him as much as before.

The judge-alone trial is expected to last 13 days. AP

Jane Fonda isn’t letting the curtain come down any time soon ContinueD FroM D1 show up for you or isn’t able to really show you that he loves you unconditionally, then you spend a lot of your life trying to be lovable rather than authentic.

Your stance against the Vietnam War continues to inflame. Last month, protesters gathered at the Traverse City Film Festival, where Michael Moore gave you a lifetime achievement award.

There was a veteran inside the theater who stood up, and I thought, “Well, OK, let him say his thing, and we will talk, and that will be cathartic for both of us.” But instead, he said: “If I had a Congressional Medal of Honor, I would present it to you. I am so

grateful that you helped end the war.” It was very, very beautiful. The men and women who were outside were extremely well-behaved, and I just feel badly that they don’t understand the war. Because if they did, and they understood what was true then, I wouldn’t be the lightning rod that I am. It would be the series of presidents and administrations, both Republican and Democrat, that they would be angry at, because we were lied to.

What’s the focus of your activism today?

Grass-roots organizing. The organizations that are going door-to-door and helping people understand that the white working class is not the enemy of people of color, and vice versa. That we have to stand together against a common enemy, which is people

that only care about money and power and don’t give a hoot about average Americans.

What do you think about #MeToo and Time’s Up? I never thought I’d live to see it happen. I think it emanated from Hollywood because the women who were speaking out were white and famous.

And then it spread across sectors to the women who are far more vulnerable—farm workers, office workers, restaurant workers, domestic workers. If we’re going to win this—by winning, I mean creating safety and dignity and respect for women of color in the workplaces—we also have to create economic equality. And we have to stand alongside women in other sectors of the economy,

which is what I’ve been doing.

You’ve said that until last year, you didn’t realize that perhaps you weren’t paid the same as your male costars.

I didn’t pay any attention. It never occurred to me that I was worthy to get paid the same as my male costar. I was a good girl. Good girls don’t talk about money. Good girls aren’t ambitious. (Now) I ask and I fight. It’s never too late.

At an age when a lot of women feel rendered invisible, both personally and professionally, what are your secrets for coming out on top?

This is the honest truth that I am telling you: I have always been invisible. n

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Relationships BusinessMirror

Love comes calling again T

By Pauline Joy M. Gutierrez

HERE weren’t too many diners at the Cantonese restaurant in one of the busiest districts in the Metro, a surprise given that it was almost time for lunch last September. The 88-seater dining hall overlooking Taguig’s cityscape looked serene as plenty of light enveloped its subdued celadon and cardinal interiors.

A classical piece, perhaps by Zhou Xuan, played faintly from the speakers.

In a private room just parallel to the main dining area, a woman sat patiently while waiting for the small group of media people to arrive. I was there first, and I watched how, with a thoughtful movement, her gaze shifted to the fine china to the diamond ring on her left hand.

If she felt overwhelmed sharing little details of the most intimate moment in her life to others, she didn’t show it. She carried herself with grace and humility, smiling politely every now and then to the journalists in our small table.

This was from a time when certificate of candidacy filings and political parties introducing national and local bets were still distant headlines. This was from a time before the woman seated right next to me would marry Aquilino Martin de la Llana Pimentel III, known to the rest of the country as Koko Pimentel, senatorial reelectionist and former 28th Senate President of the Philippines.

Finally, this was from a time when she was still Kathryna Yu, chef, humanitarian and daughter.

Before she met the senator, Kath—as

she’s called by friends and family—ran an Italian restaurant and catering business.

In May 2013 a common friend introduced her to the senator in one political victory party in Pasay. “I was asked by a friend to tag along, hindi talaga ako invited. After the victory party, parang may cocktails pa, and that’s when I met him,” Kath recalled. “We talked about food, travel and different cultures.”

The senator’s office called her to schedule a catering service soon after.

Kath said that the senator was obnoxious at first. “The first time I catered for his office, he asked me to prepare his coffee. So sabi ko, pare-parehas lang naman ’yung coffee bakit kailangan na ako pa talaga? ’Yun pala, it was his way of being closer to me. And then later on, I found out that he doesn’t drink coffee because he’s acidic,” Kath said, laughing at the memory.

The Yus hail from Marikina.

The family patriarch, who is also a philanthropist, led a nongovernment organization and an international mission group. It came as no surprise that her daughter would also be involved in social work in her career.

In 2017 the then-35-year-old Kath was offered to head the newly formed PDPLaban Cares, the humanitarian arm of the party headed by Pimentel, a position she still holds today. The organization was formed after President Duterte declared martial law in Mindanao. At the time, Kath recalled she and some friends and partymates conducted relief operations in Marawi City. In August that year, Pimentel decided to transform it to a formal organization.

“After it was launched, we went back

and forth to Marawi hanggang sa naliberate ’yung city. Noong war, tumulong din kami sa mga evacuees. We’ve just finished our project in Tarlac, where we partnered with Mayor Cristy Angeles, dahil kahit hindi ka-partido tumutulong kami eh. There we tapped doctors to give prescription glasses to senior citizens and the locals,” Kath explained. “I try to be there at all times because I want to set an example to our volunteers.”

Aside from this, Kath also manages Pimentel’s law firm. Later that same year, she regularly joined him in his official travels abroad.

In May 2018 when the senator held an official press conference announcing his withdrawal as Senate president, he also confirmed his upcoming wedding with Kath in October.

Koko popped the big question on Valentine’s Day. “Right after we hit the gym, bigla na lang niyang sinabi, ‘Nagki-crave ako ng steak, punta tayo sa baba.’” This happened at Shangri-La The Fort’s Raging Bull Chophouse and Bar. “After nun, sabi lang niya, ‘I think it’s time to be a family,’ ayun ’yung tanong niya.

I said, ‘OK, yes,’ tapos sabi ko magpa-alam muna tayo sa family mo at sa family ko.”

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Pimentel’s sons from a previous marriage fondly calls her “Mama Kath.”

Kath, 36, and Senator Pimentel, 54, officially tied the knot in a civil wedding ceremony on October 18 at the Coconut Palace.

Supreme Court Associate Justice Antonio Carpio officiated the wedding, which was attended by big names in politics and showbiz. President Duterte and former Special Assistant to the President Christopher “Bong” Go led the principal sponsors.

In his wedding vow, Pimentel said: “Today, we vote with our hearts. Thank you for electing me as your husband. This is the election I really wanted to win.”

On a more serious note, he added: “I have loved you all these years. I may not verbalize it because you know I’m a man of few words, but I hope you feel my love and genuine concern for you in one way or another. Kath, you will always be my baby girl until our baby girl actually arrives.”

Kath, in her vow, promised to be patient.

“I promise to be patient for the course of our marriage, be the constant pillar for our family wherever our lifelong voyage takes us. I will be there for you and I promise you will never have to be alone in facing your challenges,” she said.

In a Facebook post, Pimentel wrote a short gratitude letter to the people who have supported their relationship throughout the years, saying, “At this very moment, despite the chaos of politics, God blessed me with another opportunity to love and be loved through Kath, my wife. I am grateful to everyone for your support and love to Kath and I.” n

MR. and Mrs. Koko Pimentel

BusinessMirror

Motoring 1 Friday, October 26, 2018 | Editor: Tet Andolong

SLEEKER and bolder front end

EQUALLY stunning rear end

ALL-NEW SUZUKI SWIFT GL M/T

SUBCOMPACT

WONDER

BusinessMirror

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Motoring

Friday, October 26, 2018

ALL-NEW SUZUKI SWIFT GL M/T

SUBCOMPACT

WONDER THUMBS UP

n Innovative exterior design

n New cabin layout with white accents

n Seven-inch touch-operated infotainment system

n Fuel-efficient engine

n Fun to drive THUMBS DOWN

n Less muffled tire thread echoes SPECIFICATIONS

n Vehicle All-new Suzuki Swift GL M/T

n Type Subcompact car/five-door hatchback

n Engine 1.2-liter, inline four-cylinder, DOHC, 16 valves with VVT (Variable Valve Timing), multipoint injection, petrol fed

n Maximum power 82 hp at 6,000rpm

n Maximum torque 113N-m at 4,200rpm

n Transmission five-speed manual DIMENSIONS

n Overall length 3,840 mm

n Overall width 1,735 mm

n Overall height 1,495 mm

n Wheelbase 2,450 mm

n Ground clearance 120 mm

n Tire Tread 1,520 mm (front and rear) PRICE AS TESTED

n P755,000

THE dark-themed cabin’s new layout with white trims

Story and photos by Randy S. Peregrino

W

HEN Suzuki launched the all-new Swift earlier this year, it emerged with bold transformations inside and out. While the Japanese automaker wanted to retain the popular hatchback’s symbolic characteristics, they also did a great job in transforming several design cues.

During its presentation, Suzuki chief engineer Masao Kobori articulated that the vehicle’s fresh look stemmed from three important elements—succession, evolution and innovation. Indeed, the all-new Swift exemplifies a ground-breaking makeover while taking into consideration its customer’s expectations.

Suzuki Philippines general manager Shuzo Hoshikura, for his part, was grateful for the support they’re getting from the local market. Just like the other newly introduced models, he is positive that these models will constitute new achievements for the company while upholding the goal to share the “Suzuki Way of Life” to the Filipinos. For this month’s feature, we get to test the all-new Swift’s most affordable variant clad in neat Pearl Pure White in order to see if it would fit the “daily driver” role in the urban setup.

Up front is where you’ll see most of the new look’s dynamic appearance. The fresh headlights now have what Suzuki describes as distinctive vertically arranged lamps. Of course, it goes with the new-fangled and separated black

hexagonal grille. The bumper also dons another stretched black grille which provided more emphasis to the fog lamps and daylight running lights. With the customary downward yet more aerodynamic bonnet, it further complemented the newly shaped halogen headlamps along with the fresh grille design. Moreover, the windshield now has a wrap-around style.

The flanks, meantime, give emphasis to the vehicle’s curvy outlines. Most of the pillars were blackened to provide contrast to what Suzuki describes as dynamic side-window treatment. It also provides that floating roof effect.

The curvy profile on the wheel arcs has sharp lines stretching to the lower door panels all the way to the rear bumper. These character lines in the shoulders add to the whole athletic aura of the revolutionized exterior.

Interestingly, the rear doors now have pillar-mounted handles adding to the stylish and sporty appearance. As for the rear end, it now has more angular profiles and that the fresh tail lights also have that distinctive vertically arranged design. Even the rear bumper received

THE all-new Swift’s fuel-efficient 1.2-liter gasoline engine

a new treatment with more sharp profiles and delineations.

Overall, the lower and wider stance gave the all-new Swift a more aggressive and athletic look.

That guise is further complemented by the 16-inch multi-spoke alloy wheels wrapped in 185/55 series rubbers. More so, we like those optional black with red accent sticker trims which gave the car some added touch to the already unmistakable European-inspired persona. In fact, it made the test unit more indicative to the well-known Englishmade small car.

The cabin, meantime, also received major enhancements. Let alone the new dashboard layout now made more ergonomic with controls clustered within reach.

We like the new D-shaped steering wheel upgrade as it matches the sporty dark themed interior.

It also has embedded controls and tilt-adjusted as well. Also, those fabric-draped and snug front seats have bolsters similarly shaped like typical sports car seats. It also has a manual vertical adjuster to further aid you in finding that ideal driving position. We also like the minimal amount of white trims inside for that needed highlight.

For a base variant, the seven-

inch, touch-operated infotainment is absolutely a steal. While it’s about an inch smaller compared to that of the top spec’s, still it is about the same compared to other top end models out there.

It may not have the usual smartphone operating systems, but still, it has connectivity functions for telephony, Bluetooth, USB, and is equipped with offline navigation system. There’s also storage pockets everywhere for cups, bottles and other stuff. Best part is, the 60:40 rear seats, once folded, can further increase the cargo space.

Motivation comes from the same K-series 1.2-liter, four-cylinder with VVT mill from its subcompact sibling Dzire. Despite the smaller displacement, this new engine loves to rev if you wish to summon it for a quick spurt. Its torque registry becomes more aggressive toward the midrange. This is where you’ll appreciate the vehicle’s small and light yet rigid frame. What’s more fun was operating the coupled five-speed manual gearbox with short shifting-like characteristic. Clutch operation was easy and has a good friction point on gradual release as well.

When it comes to the vehicle’s road manner, the overall ride

quality was generally composed.

The only rebounds felt were from road imperfections, but were still tolerable despite the lower series tires and low ground clearance.

But the lower stance and equal tire tread measurements provided an impressive nimble feel as body rolls were close to none. That slight damping rigidity also aided in demonstrating superb handling and control on turns. But everything else turned out smooth and steady on highways. Another plus factor was how the shorter wheelbase, along with the small frame, made maneuvering through tight roads and crowded traffic situations a walk in the park. Steering was also soft and responsive with nice and steady stiffness as the speed goes up.

As for safety, this GL grade shares almost all the features across the board leaving only both the parking sensor and reverse camera exclusive to the GLX variant. These are dual SRS airbags, pedal release system, Isofix for child seat, side-impact door beams, antilock brake system with electronic brake distribution, and brake assist function, among others. Just like the allnew Vitara, even pedestrians are protected with the front end’s impact-absorbing structures with mitigating effects.

Not all base variants have a lot of elements to sacrifice in favor of affordability. Because in the case of the all-new Swift GL, the only missing elements are the embellishments and certain features you can surely live without.

In fact, with its head-turning look, not to mention the catchy optional sticker trims installed and engaging driving dynamics, this particular variant will change the way you look at Suzuki base models.

BusinessMirror

Friday, October 26, 2018

Motoring

3

Ranger leads Ford Philippines’ sales in September

F

ORD Philippines announced September retail sales improved from previous month to 1,725 vehicles.

The Ranger led the sales for the month with 875 vehicles, driving its year-to-date sales up 13 percent to 8,491 vehicles.

Ford launched the new Ranger lineup in September, which consists of nine different variants in the Philippines, including the first-ever Ranger Raptor, Wildtrak, XLT and XLS variants.

A choice of three diesel powertrains delivers greater versatility and matches consumer demands for a wider variety of requirements, including the newgeneration 2.0L Turbo and 2.0L BiTurbo engines, and the Ranger’s proven Duratorq.

The Everest midsize SUV

contributed to the September total with 421 vehicles, pushing its year-to-date sales to 4,400 vehicles.

The EcoSport mini-SUV recorded sales of 334 vehicles, driving its year-to-date sales to 4,323 vehicles.

The Mustang posted sales of 32 vehicles, pushing its year-todate sales up 17 percent to 346 vehicles.

“We remain optimistic for the remainder of the year with our refreshed vehicle lineup that is helping a lot of traffic to our Ford showrooms across the country,” said Bert Lessard, managing director, Ford Philippines.

Motoring Minder

7th PIMS brings us closer to future mobility

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ET ready to see and experience future mobility as the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) welcomes everyone to the 7th Philippine International Motor Show (PIMS) from October 24 to 28, 2018, at the World Trade Center Metro Manila.

The biggest and most innovative car show in the country gathers 17 brands presenting innovations that improve the way we use and interact with cars. Campi also promises five days of nonstop fun and learning as it excites the senses with what’s present and what’s possible with the local automotive scene.

Save the date and witness the future of mobility unfold. For more information about the 7th PIMS, visit facebook.com/PIMS2018. The 7th PIMS is made even bigger and better with Petron Corp. as a major sponsor, with Metrobank, BPI Family Savings Bank and EastWest Bank as minor sponsors. Tickets to the car show are available at smtickets.com for only P100.

(FROM left) Joseph Bautista (Campi Corporate Secretary, Isuzu Philippines Corp.); Dante Santos (Campi Vice President, Mitsubishi Motors Philippines Corp.); Atty. Rommel Gutierrez (Campi President, Toyota Motor Philippines); Atty. Louie Soriano (Campi Treasurer, Honda Cars Philippines Inc.); and Virginia P. Nuevo (Campi Assistant Treasurer, Asian Carmakers Corp.). Campi board members (back row) join them: Rommel Sytin (President, Foton Motors Philippines Inc.); Reggie See (Aftersales Director, Volkswagen Philippines); Dave Macasadia (Managing Director, SsangYong Berjaya Motor Philippines); Atty. Rhys Alexei Murillo (Assistant General Manager, Compliance and Legal Affairs, Nissan Philippines Inc.); Gerardo Alejandro (President, Coventry Motors Corp.); and Mario Regis (General Manager, Columbian Manufacturing Corp.).

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Motoring

Friday, October 26, 2018

CAM

HOLDS BRIGH

Story & photos by Ronald Rey M. de los Reyes

W

ITH global transportation gravitating toward better air quality, energy security and managing digital infrastructure while rapidly adapting to climate change, here back home, industry leaders are painting their own clear, bright picture of things to come.

The seventh Philippine International Motor Show (PIMS) brings exactly that as the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) holds the much-anticipated biennial event from October 24 to 28 at the World Trade Center in Pasay City.

Seventeen car brands gather to present innovations that bolster our day-to-day interactions with the vehicles we use. For five days, Campi ushers in nonstop fun and excitement as spectators get to learn what’s up and about in today’s local automotive scene.

“We are happy to offer PIMS again this year. Our theme, ‘Future Mobility,’ reflects our commitment to bring technologies and concepts that make our customers’ lives easier, safer, and more connected,” said Campi President Atty. Rommel T. Gutierrez.

The institution, now on its 23rd year, is now “bringing everyone tomorrow today” as this year’s theme aims to showcase how far automobiles and their

technologies have evolved and will still evolve.

“The function of cars now is not only limited to transporting us from point A to point B,” Gutierrez further shared.

“The country’s leading manufacturers and distributors have been working hard to deliver products that are responsive to the needs of the industry and society.”

For him, visitors of the show will get to better understand what Future Mobility means since they will be able to experience it themselves—firsthand.

Hence, the following will surely tickle their fancy and rouse their senses: n BAIC now ups the ante with vehicles not just for business but for leisure, as well, with their display featuring BJ20. n BMW provides Sheer Driving Pleasure with some of their driver-centric First-Ever BMW 6 Series Gran Turismo, All-New BMW X4, All-New BMW M5, First-Ever BMW X2 and BMW M2—all pres-

ent in their pavilion. n Daewoo brings in cleaner vehicles with the BS120SN and Daewoo Truck Medium Commercial Vehicle with Euro 5 Emission Standard Engine equipped with SCR System. n Foton offers the blue-powered Gratour IM6 and the Gratour TM, the Tornado M5.2C light-duty truck, the EST-400 4x2 Tractor Head, GTL 6x4 Mixer Truck, Hurricane ESTM 6x2 Cargo and GTL 8x4 High Roof Dump Truck. n Fuso applies a forward-thinking approach with the light, medium and heavy-duty truck market, as well as shuttle models from the light bus up to the PUV modernization program models. n Honda gives the public their crowd favorites Honda Civic Type

R, Honda BR-V, Honda City and Honda CR-V. n Isuzu paints their booth blue with Isuzu mu-X RZ4E LS, Isuzu mu-X Luxe, Isuzu D-Max RZ4E LS, Isuzu D-Max 4x4, Isuzu modernized PUVs and Isuzu's latest pride, the Isuzu EXZ QL—all with Blue Power technology. n Jaguar is all set for the future with their autonomous cars E-PACE and FPACE models. n Land Rover, meanwhile, preps their Land Rover Discovery and the new Range Rover Velar. n For Mazda, the sky is the limit with its 2019 lineup of award-winning models like the refreshed Mazda6, the more powerful MX-5 and its most luxurious vehicle to date, the flagship CX-9 Signature—all equipped with the

BusinessMirror

Friday, October 26, 2018

MPI

Motoring

5

HT ‘FUTURE’

updated SKYACTIV body, chassis, engine and driving dynamics technologies. n Mitsubishi flies in the eEvolution Concept, the concept car which made its world premier at the recent Tokyo Motor Show.

Together with this are the all-new Xpander, Montero Sport, Strada and the Mirage G4. n Nissan, on the other hand, provides Nissan Intelligent Mobility with their Terra, Navara and X-Trail, together with their iconic Nissan LEAF. n SsangYong rattles the cage with the first Korean-built contender for the pickup segment, the luxury utility vehicle Musso. n Suzuki levels up with their next-generation cars such as the all-new Swift, Dzire and Vitara

that focus on fuel economy, innovation and exciting styling. n Tata Motors redefines the small commercial vehicles category with their Euro-4 Tata Super Ace Mint with a 1 ton payload. n Toyota, on the other hand, offers the best of both worlds by having a seamless balance of form and function with its latest concept car, the TJ Cruiser. This hybrid juggernaut combines the luggage ca-

pacity of a cargo van with the powerful design of an off-road SUV. n And, finally, Volkswagen showcases its BlueMotion Technology that significantly improves fuel economy of the Santana 1.5 MPI automatic transmission Trendline and Comfortline, Santana GTS 1.5 MPI AT Comfortline and the Lamando 280 TSI DSG Comfortline and Highline.

Furthermore; from these, eight

Campi member-companies shall also showcase their after-sales strength that offer a holistic customer experience. For them, this is an integral part of their growth amid higher excise tax, inflation and fuel prices as they remain resilient and muster their spirit to recover.

Thus, with this, they firmly believe that a bright future indeed awaits us.

BusinessMirror

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Motoring

Friday, October 26, 2018

Boyet’s bold bid at sea survival the port side. She did nothing, though, of the message. Seconds before this happened, a speeding vessel with a powerful searchlight, red in color, was heading in my direction from the west, but to avoid the ship, it had to veer to a starboard direction. By the time the cargo ship passed between us, my moment’s hope was gone.

But the drift was still taking me to the vessels in the east anyway, and I noticed, intentionally or otherwise, that I had been triangulated against the island but within a large area, with a vessel to the south and another to the west. When I got to about a mile of the vessels in the east and after dealing with the wake of the cargo ship, I decided to swim with the current to within range of their lights. Just as I was making it within that range, they all turned around heading farther east! “My God, is this a movie or something?” I could only mutter.

T

HE following is a true-to-life story of courage, composure and craftiness carved under the most trying of times in the seas of Davao Gulf deep down South.

How Jose “Boyet” Lim III, a super successful multiple owner of Toyota dealerships in Mindanao, overcame the sea mishap of some two weeks ago is another lesson in human drama even as it remains, to many among us I’m sure, a miracle worth retelling.

If that was a freak accident, you tell me. But freak or not, it was still an accident that bordered on the tragic.

And if it should merit a Hollywood script and be produced into a full-length movie, why, I’d say with all honesty that it might yet surpass the impact of Tom Hanks’ classic Castaway.

That is, if Boyet would allow me to direct his storied saga, in the process dumping such heavyweight directors like Mel Gibson, Robert Redford and, uh-oh, Steven Spielberg. OK, include celebrated Filipino megman Loi Arcenas of Ang Larawan fame—Loi being the first cousin of Lexus Manila President Raymond T. Rodriguez. Your call, actually, Boyet.

But levity aside now, here is Boyet’s compelling narrative.

First of three parts

I surfaced from my third dive of October 11, Thursday, near the southern tip of Talicud Island in the gulf at about 5:06 p.m., more than a mile away from the dive spot and where my dive boat was af loat, unanchored. This

third dive was mainly to secure the tail of my 15-kilo catch with three-clove hitch knots to serve as deadweight that will prop up my surface balloon, so I can also stay up on the surface. The slip tip was still imbedded in it, and I clipped the butt of my spear gun to one of my BC D rings with a carabiner. I was free to move with all four limbs. I was telling my catch: “Sit tight, buddy. This is going to be a very long night. Tomorrow, I promise you’ll be famous. You’re going to the taxidermist.”

There was no way my balloon could be seen by my boatman at my distance, with waves popping it up and down. He should have made that mile round from his position before sundown. For some reason hard to understand for a veteran boatman, he did not. In an hour, I was past Babusanta drifting more than 3 miles from the boat that I could no longer see, save for sparks as her flood light swung in my direction once in a while. There were two bancas within hailing distance that I called for help, but why I was ignored, I do not know. I asked God: “Lord, is this a good day to die?” There was no answer, so I took that for a no.

Earlier before the dives, I sought the permission of the guys ashore because there were new buoys in place in the area, assuring them that my dives will be far outside the marked sanctu-

To be continued

PEE STOP I am honored to receive

by Dada R. Mendoza

ary. I dive alone and always without anchoring to avoid harming the corals. I also texted the coast guard commander saying there was a black 25-footer boat ashore and that I did the courtesy of asking permission to dive, which was granted. He said he will send security, but I declined, unwittingly, or ominously. I told him, “No assistance needed.”

The omen had begun and I set my mind on three things: I’ll be found before midmorning the following day, at worst. Second, with the moon crescent in the sky, the waves can be hard at some point in the evening, maybe a meter or 2 at most difference between low and high tide levels, but nothing unmanageable.

Third, just drift and with all

shores miles away, attempt to swim only and only with the current to the nearest one.

While drifting in the westerly direction of Toril or Santa Cruz, Davao del Sur, I could see from afar that several vessels with powerful search lights have gathered south of Talikud. A search was on. This was about 6:45 p.m.

To my luck, my dr ift was changing, and I was now moving toward the east! The current was taking me to the vessels! Then I saw lights coming in from the southeast but quite high above the water. It was a cargo ship, the first of three that would pass me.

I was in the ship lanes. I signaled SOS using the light from my wrist computer, and knew she spotted me because she veered away to

invites from Toyota and Mitsubishi to visit their booths at Campi’s seventh Philippine International Motor Show from October 24 to 28 at the World Trade Center in Pasay City.… Rosemary Cruz says the Mitsubishi booth should draw the crowds for the company’s innovative advances in the fastchanging landscape of the motor world, which will be emphasized to “the hilt” during the exposition.…

Toyota’s theme of “Future Mobility Begins with Toyota” sounds interesting. Carlo Nemo says it showcases “Toyota’s vision of the countless possibilities we could achieve through modern mobility. There are booth activities where the whole family can try their luck in exciting games for exclusive Toyota prizes.” Carlo adds: “Dedicated transaction areas with representatives from Toyota Genuine Parts & Accessories, Toyota Financial Services and Metro Manila dealerships are also available.

For more information, follow the brand’s official Facebook page at fb.com/ToyotaMotorPhilippines and check out the new web site at www.toyota.com.ph.

Filipinos take advantage of low rates for auto loans

D

ESPITE rising inflation and peso-dollar exchange rates, Filipinos are taking advantage of low rates and waived fees for auto loans, resulting in a 12-percent rise in applications and bookings for such loans for BPI Family Savings Bank (BFSB).

“While sales of cars in the country have slowed down in the first half of the year, there are some Filipinos who believe that the attractive rates and discounts provided by some banks for auto loans will not last for long,” said Dennis Fronda, head of BPI Family Auto Loans BFSB, for its part, has launched its Auto Loans All Out Promo early this year and will only accept applications until the end of October.

“This is still a good time to avail

of a car loan,” said Fronda. “Clients will be able to secure and lock the rate for the whole duration of the loan, even if rates eventually increase.”

He said the bank hopes to let more people know about the benefits of the All Out Promo through its participation in the seventh Philippine International Motor Show (PIMS) on October 24 to 28 at the World Trade Center in Pasay City.

“We hope that, through our participation in PIMS, many will see the wisdom of availing of promos that will make it easier to have that dream car before prices and rates rise further. Our loans will allow our clients to stretch out their funds over a long period of time while enjoying additional savings as well,” said Fronda.

Auto Loan clients get free firstyear comprehensive car insurance, free chattel mortgage fees, low monthly amortization and a P10,000 discount on a car’s downpayment discount.

The BPI Family Auto Loan All Out promo is available to all its new and existing clients nationwide who will apply for an auto loan only until October 31, and whose loan application will be approved and booked on or before December 31. The loan amount should be within the range of P500,000 to P5,000,000, and the loan term should be five years.

The auto loan approval can be as fast as one day if the client would be able to submit the complete requirements along with the application form.

Learn more about the BPI Family Savings Bank’s Auto Loan All Out promo by visiting https://www.

bpiloans.com/ or visiting any BPI/ BPI Family Savings Bank branch nationwide.

Bulk Movers Friday, October 26, 2018

BusinessMirror

Motoring

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HYUNDAI HOLDS FIRST-EVER MOBILITY SOLUTIONS EXPO

I

Story & photos by Randy S. Peregrino

T has been more than two years since Hyundai Motor Co. (HMC) awarded Hyundai Asia Resources Inc. (Hari) the exclusive distributorship of Hyundai trucks and buses in the Philippines and it paved the way for the company to offer the complete product lineup of passenger and commercial vehicles.

THE luxurious Universe bus

THE heavy-duty Xcient series

by one of the leading transport companies, Victory Liner, this first-class people carrier can seat between 40 to as much as 50 depending on the configuration.

Another was the smaller Super Aero City bus intended for intercity operation that can haul up to more than 40 passengers depending on the setup. There was also the light bus County being pitted against the Coaster and Rosa bus from the Japanese counterparts.

Even Hyundai ’s unique H350 large van was displayed with various customized interiors to highlight the vehicle’s versatility when it comes to customer’s preference.

HYUNDAI’S own version of the modern jeepney

Modern PUJ

THE HD 78 series in wing van variant

Now on its 17th year in the country, the Korean manufacturer’s commercial vehicle (CV) dealership network has grown to 11 branches offering full array of Hyundai trucks and buses with dedicated after-sales support, and offering genuine Hyundai parts. But Hari is determined to even increase the number of CV dealerships to 20 in the next two years.

“We want to expand the reach and coverage of Hyundai’s business in the Philippines, serving individual customers through our passenger cars, and commerce and industry through our commercial vehicles. By entering the high growth market of commercial vehicles, we can better fulfill our mission to be the leading provider of sustainable, environmentfriendly, world-class, innovative, and cost-effective customer and business-to-business mobility and payload solutions in the commercial vehicles trade,” said Hari President and CEO Ma. Fe Perez-Agudo.

In order to showcase Hari’s capacity to offer business mobility

THE modern jeepney’s modern interior

and HMC Executive Vice President and COO of Commercial Vehicle Division In Cheol Lee.

Light to medium and heavyduty haulers

MORE HD 65 and HD 78 variants on display

solution package to the growing demand of commercial vehicles in the country, the company recently kicked off the North Luzon leg of the Hyundai Power Solutions.

Held at the Laus Group Event Centre in San Fernando, Pampanga, the event featured Hyundai’s complete lineup of trucks, as well as other sophisticated people movers. CV sales and after-sales service experts were also on-site and prov ided comprehensive demonstrations, as well as consultation sessions on vehicle applications and maintenance.

“Hyundai Power Solutions— Nor th Luzon Leg is the inaug ura l platfor m of Hy undai ’s

commercia l vehicle ex po that sha l l set in motion a ser ies of Hy undai business ex posit ion s i n st rateg ic loc at ion s a l l over the Philippines. T he ex po aims to br ing Hy undai ’s total solutions package—from its complete line of innovative trucks, buses, and special purpose vehicles, to ex per t aftersales ser vice and genuine parts suppor t— c loser to prospective customers and markets,” Ag udo added.

Honoring the expo were none other than Transportation Secretary Arthur P. Tugade, Embassy of the Republic of Korea Minister Counselor Kim Sun-young,

L I N E D u p w e re t he X c i e nt heavy-duty series showcasing different body setup. From the versatile tractor head variant to the construction business operators such as the cement mixer and dump trucks variants. The light to medium HD ser ies, meant ime, were presented in various size and applications. Representing the medium-scaled HD 78 and HD 65 were numerous body setup for different business applications. These were the sophisticated wing van, crane, dropside, dump truck, water tanker, as well as the dry and insulated van. As for the smaller HD 36, the aluminum van version was displayed.

People movers

LEADING the array of sophisticated movers was the luxury Universe bus. Already commissioned

PERHAPS the main starrer among the CV displayed was the debut of Hyundai’s own version of the modern jeepney. Based on the HD36 platform, it represents a new concept in the public transportation landscape. This modern jeepney exhibits a unique engineering characterized by a proprietary cab and chassis design. It’s designed to withstand the daily punishment brought about by the mass transport requirements of the commuting public.

“The debut of the new Hyundai Modern Jeepney reflects the company’s steadfast commitment to support the government’s Public Utility Vehicle Modernization Program [PUVMP]. We believe that fleet modernization is an important step toward the economic progress of the Philippines, and we have been working closely with the Department of Transportation to ensure that this vision becomes a reality,” said Agudo.

The unique body design is a product of innovative young minds from the University of the Philippines College of Architecture and Interior Design, College of Engineering and the technical expertise of HMC Research and Development Center in Seoul, Korea. In line with the government’s PUVMP’s goal for clean air, it’s equipped with a Euro IV CRDi engine for better fuel efficiency and cleaner emissions. It also offers modern features mandatory to the prog ra m suc h as automated payment system (Beep card), Wi-fi connectivity, GPS tracking, CCTV cameras for security and speed limiter technology.

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Motoring

Friday, October 26, 2018

Honda PH concludes motorcycle mechanics Olympics

H

By Randy S. Peregrino

ONDA Philippines Inc. (HPI) recently concluded its 14th National Motorcycle Mechanics Skills Olympics represented by various dealerships in the country. Every year, HPI holds this friendly competition for dealer mechanics from all over the country as the ultimate test of expertise.

Aside from being known as the trusted brand when it comes to technologically advanced motorcycles and exceptional customer service, HPI, along with its dealer networks, also works handin-hand in training its dedicated work force in order to guarantee top-quality services are being achieved. This is Honda’s way to ensure that its mechanics’ skills are adapting with the technological advancements, and, more important, customer expectations.

This year’s National Motorcycle Mechanics Skills Olympics 12 finalists were Alberto Alabar of Du Ek Sam Talisay City, Jun Mar Suplio of Jied Motohaus Mati, Jared Yanga of Guanzon Merchandising Caloocan City, Sherald Anthony Publico of Desmark Corporation Calinan, Arnyl

Librea of Desmark Corporation Tagum City, Mark John Blas of Desmark Corporation Calamba City, Jussel Bargamento of United Motoliance Guihulngan, Henry Balais of Motortrade Topline Guimba, Regnes Arenas of Desmark Corporation Tuburan, Jester Monsanto of Summit Superbikes Candelaria, Norman Nueva of Desmark Corporation San Pedro Davao City, and Lou Jaysson Landicho of Honda Prestige Traders Incorporated.

After competing in the national finals for three years, Jun Mar Suplio of Jied Motohaus Mati reigned supreme this year and became the grand champion.

Aside from the trophy, he was also awarded with a brand-new CB150R. Subsequently, Suplio will pair up with the previous year’s

THIS year’s Grand Champion Jun Mar Suplio of Jied Motohaus Mati with his brand-new CB150R. HONDA PHILIPPINES INC.

winner to represent HPI in the Asia and Oceania Mechanic Skills Olympics this December in Indonesia. Meanwhile, Mark John Blas of Desmark Corporation Calamba City earned first runner-up, while Lou Jaysson Landicho of Honda Prestige Commonwealth secured second runner-up spot.

The National Motorcycle Mechanics Skills Olympics is more than just a competition. It is also a platform for the participating mechanics to showcase their expertise and for their potentials to be recognized to become the best in their field. In turn, this would also uplift the level of respect for

these mechanics and strengthen the claim that Honda not only produces world-class quality motorcycles, but world-class quality mechanics as well.

Ultimately, HPI partakes not just in the realization of every mechanic’s dream, but to every Filipino’s ONE DREAM.

Vespa rolls out new and stylish scooters V ESPA Philippines recently launched the 2018 editions of the Primavera and Sprint 150 at the event held in its dealership in Bonifacio Global City. Aside from the updated features and that distinct “tie” design upfront, the two gorgeous scooters also now sport LED lighting technology on both head and tail lamps. Moreover, both are motivated by a Euro 4-compliant 154.8cc engine producing 12.7 hp and 12.8 N-m of maximum torque.

Braking systems are also equipped with single-channel ABS.

Vespa Primavera

CELEBRATING its first 50 years, the Vespa Primavera today embodies all the values ​​that made it successful—innovative, technologically avant-garde, agile, dynamic and environmentally friendly. The Primavera is a modern bike inheriting the freshness and joie de vivre of its progenitor. What’s new is the distinctive “tie” featured on the front, as well as the chrome crest on the front mudguard. Its aluminum alloy wheels are now bigger at 12 inches (largest in Vespa’s history) sporting a new five-spoke design. The LED lighting technology, meantime, is now adopted for both the front and the rear lamps to further boost active safety.

As for the top box design, it’s clad in body color and enhanced by the famous chromed Vespa logo. The scooter can also be fit-

THE 2018 Primavera VESPA PHILIPPINES

ted with a top fairing available in both transparent and tinted material. Security-wise, there’s an electronic anti-theft device along with the mechanical saddle-handlebar anti-theft device. It is draped with genuine Italian leather with graphics for uniqueness. The 2018 Primavera is priced at P185,000.

Vespa Sprint 150

AS the most modern interpretation of a sports version, the Sprint

THE 2018 Sprint 150 VESPA PHILIPPINES

150 is enriched by most advanced technical features and designed to achieve the highest levels of stability and handling. Its new design combines fresh styling and sportiness with state-of-the-art technology. Characterized by very youthful lines, it is also emphasized by a gritty rectangular headlight.

Likewise, LED lighting technology was adopted for both the front and the rear lamps to further boost active safety. Its aluminum alloy

wheels are also now bigger at 12 inches.

There’s also the distinctive new “tie” feature on the front, setting the new model apart from its predecessors. Likewise, the top box design is clad in body color and enhanced by the famous chromed Vespa badge.

Maximum protection is ensured by the anti-chip, high-quality, methacrylate windscreen. The support rods, on the other hand, have a clear finish complementing the other aes-

thetic details.

The Sprint can also be fitted with a top fairing—available in both transparent and tinted material. Both the luggage racks and the side guards are also available in matte black finish, combining style and sportiness. The saddle, meantime, is draped with black and sporty leather material.

The 2018 Sprint 150 is valued at P205,000.

Randy S. Peregrino

A BusinessMirror Special Feature

www.businessmirror.com.ph

Friday, October 26, 2018

F1

STEP INTO #FUTUREMOBILITY

WITH THESE #PIMS2018 ATTRACTIONS

T

HE Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) opens the 7th Philippine International Motor Show (PIMS). With the theme "Future Mobility,” visitors will experience the latest innovations and concepts as they are laid out at the World Trade Center Metro Manila from today until Sunday, October 28.

Here are some of the things to look forward to at PIMS:

Feast for the senses.

Participating brands will showcase their latest vehicles and automotive technologies: nBAIC - BJ20 nBMW - First-Ever BMW 6 Series Gran Turismo, All-New BMW X4, All-New BMW M5, First-Ever BMW X2, and BMW M2 nDaewoo - Daewoo Bus BS120SN and Daewoo Truck Medium Commercial Vehicle with Euro 5 Emission Standard Engine equipped with SCR System nFoton - Gratour IM6 and the Gratour TM, the Tornado M5.2C light duty truck, the EST-400 4x2 Tractor Head, GTL 6x4 Mixer Truck, Hurricane ESTM 6x2 Cargo, and GTL 8x4 High Roof Dump Truck nFuso - Light, Medium, and Heavy Duty Truck Market as well as shuttle models from the Light Bus up to the PUV Modernization Program models nHonda - Honda Civic Type R, Honda BR-V, Honda City, and Honda CR-V nIsuzu - Isuzu mu-X RZ4E LS, Isuzu mu-X Luxe, Isuzu D-MAX RZ4E LS, Isuzu D-MAX 4x4, Isuzu modernized PUVs, and Isuzu's latest pride, the Isuzu EXZ QL nJaguar - E-PACE and FPACE nLand Rover - Land Rover Discovery and the Range Rover Velar nMazda - Mazda6, MX-5, and the CX-9 Signature nMitsubishi - Mitsubishi e-Evolution Concept and Outlander PHEV along with the Xpander, Montero Sport, Strada, and the Mirage G4 nNissan - Nissan Terra, Nissan Navara, Nissan X-Trail, and the Nissan LEAF nSsangYong - Musso nSuzuki - Swift, Dzire, and Vitara nTata Motors - Euro-IV Tata Super Ace Mint nToyota - The TJ Cruiser nVolkswagen - Santana 1.5 MPI automatic transmission Trendline and Comfortline, Santana GTS 1.5 MPI AT Comfortline, and the Lamando 280

TSI DSG Comfortline and Highline

Care for your car.

CAMPI offers its After-sales Pavilion, which houses eight brands to provide technical solutions and guidance for car owners. It also features a sample demonstration of vehicle inspection to share tips on taking care of wellloved road buddies.

Steer it to believe it. Ten brands will open free test drives around Pasay. This will be open from 10:00 AM - 6:00 PM throughout the week.

Catch up with fellow car enthusiasts. Make new friends with like-minded car owners and brand loyalists.

PIMS will host various car clubs from Honda, Isuzu, Mazda, Mitsubishi Motors, Nissan, Suzuki, Toyota, and Volkswagen.

Future-proof knowledge on safety. Listen to industry experts as they share rescue and disaster preparedness tips.

Complete your muchneeded car upgrade. Get the best parts and accessories from over 50 exhibitors-a sure way to score the biggest deals and discounts as you enhance your car’s outer appearance and inner performance.

Join the fandom.

Turn on your fan radar for surprise celebrity appearances and performances from some of your favorite brands. That’s a lot of chances for securing that precious selfie.

Meanwhile, if you just want to fill your feed with car photos throughout PIMS, make sure to drop by the scale model/diecast display at the lobby before you visit the pavilions.

Fun for everyone.

Bring your kids so they can experience the Kiddie Treasure Hunt. Lastly, pose with your loved ones in the photo booth to keep your PIMS memories alive.

All these and more at the 7th PIMS, made even bigger by sponsors such as Petron, Metrobank, BPI Family Savings Bank, and EastWest Bank. Tickets are available at SM Tickets or at the venue for only Php100.

To learn more about 7th PIMS, visit facebook.com/ PIMS2018.

F4 Friday, October 26, 2018

NEWEST TRANSPORT NETWORK COMPANY FORMALLY LAUNCHED

M

ITSUBISHI Motors Philippines Corp.

(MMPC) invites all car enthusiasts and the general public to an exciting display of the latest in the Philippine automotive scene at the 7th Philippine International Motor Show (PIMS). Organized by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), the show will run beginning October 24 until October 28, 2018 from 10am to 9pm at the World Trade Center, Metro Manila.

To give you a glimpse of future mobility, MMPC will showcase the MITSUBISHI e-EVOLUTION CONCEPT a concept car that made its world premiere at the recent Tokyo Motor Show. The all-electric high performance SUV embodies MMC's new brand strategy under the new "Drive your Ambition" global tagline, a strategy

PHOTOS BY ALDWIN TOLOSA

MITSUBISHI MOTORS PHILIPPINES REVEALS ITS LINEUP FOR THE 7TH PHILIPPINE INTERNATIONAL MOTOR SHOW

that reflects an adventurous and progressive mindset for inspirational design and product.

The MITSUBISHI e-EVOLUTION CONCEPT is a technical prototype to illustrate the strategic directions of a renewed MMC brand that incorporates the strengths of SUV, EV, and the ability to integrate new systems for a connected mobility customer experience.

MMPC will also showcase its current bestselling vehicles, the XPANDER, Montero Sport, Strada and the proudly Filipino made Mirage G4. Visitors may take a close look at these models and may even test drive the XPANDER, Montero Sport, Strada and Mirage G4. (Test drive is from 10AM to 6PM only.)

With MMPC’s current partnership with government and other organizations on the

viability of electric vehicles (EV) in the country, a display of the latest Outlander PHEV (Plug-in Hybrid Electric Vehicle) will also be available at MMPC pavilion. MMPC has been actively pursuing EV demonstration project with the Philippine government and authorities to utilize the e-mobility as a social infrastructure in the near future.

Apart from the interesting vehicle displays and test drive, fun activities for the whole family are in store during this 5 day motor show.

Exclusive discounts and freebies will also be offered during the PIMS. And to make it even more exciting, Mirage G4’s brand ambassador Ms. Liza Soberano will be coming over on October 27 to say hello to her fans and all Mitsubishi fanatics. Drop by the MMPC pavilion and experience the Future Mobility at the 7th PIMS.

H

YPE Transport Systems, Inc. one of the newest all Filipino transport network companies (TNC) recently held its first ever HYPE FEST, a gathering of drivers, operators, and the public; as the TNC goes full swing in its operations to serve the riding public, at the SMX Convention Center, Mall of Asia Complex. Pasay City.

Attended by thousands, HYPE FEST brought together the entire community in an afternoon and early evening of entertainment, fun, games, and camaraderie; highlighted by the appearance of Mr. Piolo Pascual, HYPE ambassador; and the raffling off of various items from the sponsors; and a brand new Toyota Vios to a lucky event-goer.

In his message to the attendees, Mr. Nicanor Escalante, HYPE Transport Systems, Inc. President said, “When we first envisioned HYPE, we had a vision to provide the Filipino riding public a viable choice. We wanted the Filipinos to have the power to choose the most affordable, the safest, the most convenient, and with the most number of transport options possible.”

“We are proud to say that as the Filipino riding public has

begun to support HYPE, more and more of our drivers —both TNVS and taxi cabs; will continue to enjoy more and more earnings by using the app, and will most definitely enjoy more surprises from us and our partners,” Escalante further said.

During his speech, Mr. Escalante further announced a promoincentive for drivers who complete a pre-determined number of trips that might just win them up to One Million Pesos in prizes.

Miss Jennifer Silan, HYPE Chief Operating Officer also presented a number of promo-incentive schemes for the riding public.

The event sponsored by SMART, PLDT, Phoenix Petroleum, Rapide, Hunters, Huawei, Connext Marketing (BAJAJ), Toyota Lipa, Manila Broadcasting Corporation, and Star City; was hosted by internet sensation Ashley Rivera, was graced by Filipina actress, host, dancer, and commercial model Andrea Torres of GMA 7; with Ransom Collective, an all-Filipino indie folk band entertaining the audience; and capped off by the performance of sought-after DJ Patty Tiu.

To learn more about HYPE Transport Systems, Inc. visit their website at www.hypetransport.com; and their Facebook page www. facebook.com/HYPE.

F2

A BusinessMirro

Friday, October 26, 2018 | www.businessmirror.com.ph

SUZUKI PHILIPPINES UNDERSCORES NEXT-GENERATION VEHICLES AT 2018 PIMS

S

UZUKI Philippines, the country’s pioneer compact car distributor, demonstrates its continued efforts to innovate and offer Filipinos vehicles that serve as their partners in life, moving with them now and toward the future, as it joins this year’s Philippine International Motor Show.

SPH will showcase its lineup of innovative vehicles and give a peek into next-generation cars combining fuel economy, distinct styling, and innovative features and functions in line with PIMS 2018’s theme of Future Mobility. The trade event, which will run from October 24 to 28 at the World Trade Center in Pasay City, will feature the latest and upcoming technologies in the Philippine automotive industry.

SPH’s booth will highlight not just how the brand has been growing and evolving but also, and more importantly, how its range of innovative vehicles continues to improve to provide the best driving experience now and in the future. Suzuki’s booth will present how the company continues to upgrade its current vehicle lineup to become future-ready vehicles that are compact yet powerful

enough to handle Filipinos’ driving needs, in particular in highly urbanized areas.

Shuzo Hoshikura, vice president and general manager of Suzuki Philippines for Automobile, shares his excitement for this year’s PIMS. “Suzuki has been for several years now an active participant in the Philippine International Motor Show. For many years now, PIMS has been a strong platform for us to connect with our supporters much more directly and show them how we continue to upgrade the Suzuki vehicles they have loved. Beyond displaying our latest models, we want to share with them how fervent we continue to be in driving innovations that move the Filipino drivers and riders toward the future,” Hoshikura said.

Well-loved Suzuki vehicles on display Visitors to

the 7th edition of PIMS will be able to get a first-hand experience with Suzuki’s popular vehicles such as the new Swift, new Dzire, new Vitara and Ciaz.

SPH will showcase the special features and functions of the recently launched all-new Dzire and Swift.

Visitors interested in finding out more about Auto Gear Shift (AGS) technology can explore the Dzire. The practical sedan enables automated manual transmission with its AGS functionality, enabling Filipino drivers to enjoy the ease of driving offered by automatic vehicles with the fuel efficiency of manual transmission.

The new Swift offers improved driving experience with its maneuverability and stand-out character. Its edgier look and upgraded engine performance suit the style and needs of fun-loving millennials.

The new Vitara, 2017 CAGI Car of the Year awardee under the Subcompact Crossover Category, boasts enhanced driving and safety features. Its stylish design also offers optimum personalization to suit drivers’ diverse tastes and requirements.

The Ciaz, a top-selling Suzuki brand and the winner of Best Personal Commuter in last year’s 12th C! Magazine Awards, packs an elegant design and spacious interior. On top of these, it features fuel economy and an affordable price that combined make it an ideal subcompact sedan.

Exciting booth activities to entertain SPH has lined up exciting activities to entertain guests during the five-day trade event.

Popular dance group GForce and rock icon Bamboo

will raise the energy further during the opening day on October 24. Filipino indie-alternative rock band Autotelic will entertain visitors to the booth on the following day while Kris Lawrence will serenade guests on October 26.

In line with the 2018 ASEAN Football Federation (AFF) Championship, the SPH booth will feature the Philippine Azkals as part of the AFF Trophy Tour on October 27. Sisters group 4th Impact, which rose to fame after their stint in X Factor UK, and Kristel de Catalina, grand winner of Pilipinas Got Talent, will also be there to entertain everyone. On the last day of the trade show, the Suzuki Safety Scouts will share their advocacy on road safety. As part of SPH’s efforts to raise awareness about road safety nationwide, the Suzuki Safety Scouts is open to children aged 4 to 14, who besides being an official

scout for free will receive traffic safety training, a safety scout uniform and activity books on road safety.

Lastly, Asia’s Soul Supreme KZ Tandingan will grace the SPH booth on the last day of the 2018 PIMS. The 7th PIMS, organized by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), aims to bring together the country's leading motoring industry players to present the latest in vehicle releases, services and cutting-edge technologies.

Exhibit areas open at 10AM and close at 9PM.

For more information about Suzuki Philippines and Suzuki at the Philippine International Motor Show 2018, please visit http://suzuki.com.ph/auto/ and like them on www.facebook.com/SuzukiAutoPH, https://twitter.com/ SuzukiAutoPH and follow on Instagram at @suzukiautoph.

ror Special Feature

www.businessmirror.com.ph | Friday, October 26, 2018

F3

MAZDA

DEFYING CONVENTION TO CELEBRATE THE FUTURE OF MOBILITY I

N pursuit of its mission to bring about a beautiful earth while enriching people’s lives and uplift society through the value found in its products, Mazda Philippines once again raises the bar for style and technology at the 7th Philippine International Motor Show.

The premium Japanese brand will showcase a lineup featuring the latest evolution of its Kodo: Soul of Motion design language and the most advanced SKYACTIV Technology suite of engineering solutions available to date.

All new for model year 2019 is an exquisite range of nameplates highlighting the latest rendition of Mazda’s signature design philosophy as well as groundbreaking engineering innovations that introduce the next-generation direction of SKYACTIV Technology.

The venerable Mazda6 leads the way with a fresh new look penned to evoke dynamism and emotion. With heightened improvements in dynamic handling, an even more luxurious riding feel with its quieter and smoother cabin, and more powerful 2.2-liter SKYACTIV-D engine and more fuel efficient 2.5-liter SKYACTIV-G gasoline engine options, the Mazda6 brings class-above quality and drivability to a new generation of car owners who value an exhila-

rating premium driving experience.

Championing Mazda’s crossover lineup is an all-new introduction to its flagship CX-9 model range. The CX-9 Signature is Mazda’s most luxurious vehicle to date and it features an even more elegant interior lined with meticulously crafted Rosewood trim and Nappa leather seats in all three rows.

The CX-9 Signature is the true pinnacle of class and refinement in the realm of 7-seater crossovers.

Both the 2019 Mazda6 and CX-9

continue to come with G-Vectoring Control, the realization of Mazda SKYACTIV Vehicle Dynamics designed to help achieve a smoother, more engaging ride. And to further complement the improved driving experience for the CX-9, it is now equipped with Apple Car Play and Android Auto which enhance connectivity and improve interaction between the car and driver.

To highlight the brand’s all-encompassing Jinba Ittai or horse and rider driving ethos, the world’s most popular

sports car, the MX-5 open-top, two-seat Roadster, shall once again be the centerpiece of the brand’s presence at the 7th PIMS. Now with a higher-revving 184-ps SKYACTIV-G 2-liter gasoline motor and telescopic steering wheel adjustment across the new model range, the 2019 MX-5 in both soft-top coupe and RF lines, continue to heighten the sensation of top-down sports car driving to a whole new level.

Patrons of the 7th PIMS shall also see the full lineup of Mazda vehicles

which include award-winning models packed with the updated SKYACTIV body, chassis, engine and driving dynamics technologies and innovations designed to bridge next-generation technology and current-day demands.

The highly efficient and stylish Mazda2, along with the definitive Mazda3 shall complement the premium Japanese brand’s passenger car presentation. Further reinforcing this visual feast is the equally commanding presence of Mazda’s full crossover lineup

which also includes the trend-setting CX-3 and the smart and svelte CX-5.

The 2019 Mazda Collection is designed and engineered to deliver not only an even more premium and more luxurious riding experience, but also a heightened driving feel punctuated with superior performance, unrivalled fuel-efficiency, and superior safety. Mazda shall once again deliver a complete presence designed to elevate the total driving experience as it brings the future of modern mobility closer to the Filipino.