‘CHEF JOLLIBEE’ TO PUSH FOOD TOURISM
The DOT and Jollibee are partners in a food tourism campaign showcasing the richness and diversity of Filipino cuisine and the joy of eating in the Philippines. Photo shows Jollibee’s mascot with (from left) Mikey Bustos, Jollibee Foods Corp. CEO Ernesto Tanmantiong, Tourism Secretary Bernadette Romulo Puyat, JFC Philippines Country Head Joseph Tanbuntiong, Jollibee Philippines President JJ Alano, Jollibee Global Brand CMO Francis Flores, Chef Jordan Andino, and Chef JP Anglo. The event was held at Double Dragon Mall,in Parañaque City. ROY DOMINGO
ROTARY CLUB OF MANILA JOURNALISM AWARDS
2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year
By Ma. Stella F. Arnaldo
@akosistellaBM Special to the BusinessMirror
M
ANY foreign food critics and renowned international culinary experts have been saying in the last few years that Filipino dishes comprise the new “it” cuisine in the world. Helping spread that word and promoting the Philippines as a key food destination in Asia is the country’s most popular chef, Jollibee.Z Jollibee Foods Corp. and the Department of Tourism (DOT) on Saturday launched “Eats. More Fun In the Philippines” (a play on DOT’s slogan It’s More Fun in the Philippines), a joint campaign promoting food tourism to foreign travelers. The event was held at Islas Filipinas, a food hall featuring Filipino dishes from around the country, at the Double Dragon Plaza in Pasay City.
Under the partnership, Jollibee has created a threeminute audiovisual presentation (AVP) showcasing the country’s rich cuisine and dining culture, with a variety of dishes representing the fusion of flavors—sweet, salty, sour, and savory—that make Filipino dishes delicious and memorable. It also shows popular Jollibee offerings like the burgers, Jolly Spaghetti, and Chickenjoy. The AVP stars Filipino-Canadian celebrity chef Jordan Andino, host of the Food Network’s Late Nite Eats; Chef JP Anglo (Sarsa), famous for his Ilonggo dishes; and Filipino-American comedian/YouTuber Mikey Bustos. Jollibee also created 30-second TV commercials, also featuring Filipino dishes and dining habits. The materials were all created by BBDO Guerrero, the advertising agency of Jollibee. The AVP is currently playing on Jollibee Studios on YouTube as well as Jollibee’s and DOT’s Facebook pages.
See “Chef Jollibee,” A2
BusinessMirror A broader look at today’s business
www.businessmirror.com.ph
n
Monday, September 2, 2019 Vol. 14 No. 327
Dar: PHL agri sector needs nontariff menu $850B A By Jasper Emmanuel Y. Arcalas
@jearcalas
GRICULTURE Secretary William D. Dar said he is keen on implementing nontariff measures (NTMs), such as the grant of subsidies, to hike the productivity and boost the competitiveness of Filipino farmers.
Dar made the policy statement during a forum organized by the Philippine Chamber of Agriculture and Food Inc. (PCAFI) where he served as keynote speaker on Saturday. “If we need to subsidize, we must subsidize. That’s a policy
direction. There are many ways, not only subsidy, that may be used under the WTO [World Trade Organization],” Dar said in a statement released by the PCAFI on Sunday. “New equations, when you promote these in a big way, [will
benefit farmers]. We will take this route so we can become productive and competitive,” he added. More stringent sanitary and phytosanitary rules for imported goods and investments in farm-to-market roads and post-
Budget set aside by the US government, including subsidies, for American farmers through the farm bill, according to PCAFI President Danilo V. Fausto
harvest facilities are other NTMs that may be implemented to support farmers. PC A FI sa id Da r m ade t he statement in response to the group’s position that the Phili p p i ne go v e r n me nt h a s not supported the local farm sector through NTMs that are “openly practiced ” by developed countries like the United States, Japan and European countries. See “Agri sector,” A2
Mystery hog disease struck 4 sites–DA
T
HE Department of Agriculture (DA) said there are four sites tagged “ground zero” where scores of hogs were killed after the still unidentified swine virus struck backyard farms. Agriculture Secretary William D. Dar revealed this piece of information during his speech at the Philippine Chamber of Agriculture and Food Inc.’s (PCAFI) forum last Saturday. This is the first time that the DA disclosed more details on the suspected animal disease outbreaks in the country. However, Dar stopped short of identifying the exact location of the four “ground zero” sites. The DA has been tight-lipped about details related to the hog deaths caused by a “mysterious” disease, which officials described as a “major economic disease.”
PESO EXCHANGE RATES n
BUSINESS NEWS SOURCE OF THE YEAR DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY
DATA CHAMPION
P25.00 nationwide | 5 sections 28 pages | 7 DAYS A WEEK
BSP VOWS TO HELP MSMEs GAIN ACCESS TO CREDIT By Elijah Felice E. Rosales @alyasjah
T
HE Bangko Sentral ng Pilipinas (BSP) has vowed to push for the legislation of measures and implementation of programs that will improve the access to credit of micro, small and medium enterprises (MSMEs). In a forum with exporters last week, BSP Governor Benjamin E. Diokno said the review and the eventual amendment of the AgriAgra Reform Credit Act will boost the operations of MSMEs. The BSP is batting for the amendment of the law to expand the projects that banks can fund to comply with their agricultural financing obligations. Under the law, banking institutions, whether state or private, are required to set aside at least 25 percent of their total loanable funds for agriculture and fisheries credit in general, of which 10 percent should be allocated for agrarian reform beneficiaries. Fur ther, Diok no said the
passage of the Personal Property Security Act will enhance the access of MSMEs to business and consumer credit by enabling the use of alternative collateral, such as equipment, inventory and warehouse receipts. Signed into law last year, the implementing rules and regulations of Republic Act 11507 have not yet been completed. “The introduction of updated and more flexible provisions in these laws would help MSMEs, especially those that are agricultural-oriented, to gain access to credit; leverage innovative models; and induce banks to venture into MSME and agriculture financing with better terms and standards for compliance,” Diokno said at the forum. He added the BSP, along with the Cooperative Development Authority, is implementing the Credit Surety Fund program. The CSF seeks to boost the credit worthiness of MSMEs by providing surety cover of up to 80 percent for their bank borrowings.
Staff, funds lack to delay full UHC coverage
“There are ground zeroes in four areas but I will not disclose the location,” Dar said in a mix of English and Filipino. He said he will not reveal the exact location to discourage people, especially the media, from going there and possibly spreading the disease. “Why will I not tell? If the public finds out the exact location, then people will go there. The media will go there and if they enter the 1-kilometer [radius], they may spread the virus. We don’t want that to happen,” Dar added. BusinessMirror’s sources said the ground zero sites are located in Rizal province, where the government has already put up stringent animal quarantine checkpoints and culled all affected pigs. See “Hog disease,” A2
2018 EJAP JOURNALISM AWARDS
T
H E Ph i l ip pi ne He a lt h Insurance Cor p. (Phi lHealth) said it may take three more years to fully implement the Universal Health Care (UHC) law due to lack of funds and personnel. PhilHealth President and CEO Ricardo C. Morales said this was their estimated period before the government could raise the sufficient funds and recruit the people needed to ensure every Filipino will be covered by PhilHealth. “PhilHealth cannot implement more than what the budget allows. But what we can do is to organize to be able to implement the universal A FEMALE hog tends to her piglets in this BusinessMirror file photo. NONIE REYES
US 52.3390 n JAPAN 0.4915 n UK 63.8117 n HK 6.6710 n CHINA 7.3273 n SINGAPORE 37.7245 n AUSTRALIA 35.1927 n EU 57.8817 n SAUDI ARABIA 13.9563
See “UHC,” A2
Source: BSP (30 August 2019 )
News
BusinessMirror
A2 Monday, September 2, 2019
www.businessmirror.com.ph
House leader seeks 2020 budget bill recall
H
By Jasper Emmanuel Y. Arcalas
@jearcalas
OUSE Deputy Speaker Luis Raymund F. Villafuerte Jr. on Sunday said he sought the withdrawal of the General Appropriations Bill (GAB) since its filing was premature as lawmakers have yet to finish deliberating the proposed 2020 national budget. Nonetheless, Villafuerte said the House of Representatives is not deviating from its target of passing the 2020 budget by end-October
Agri sector. . . Continued from A1
For example, PCAFI President Danilo V. Fausto said the US government sets aside a budget of $850 billion, including subsidies, for American farmers through the farm bill. United Broiler Raisers Association (Ubra) President Elias Jose Inciong, who is also a PCAFI member, said local farmers cannot compete against heavily subsidized foreign planters. This, Inciong pointed out, is a fact that economic managers have ignored. “What enables other farmers is subsidy. That’s why the Doha development round of the WTO, the development aspect, has been abandoned. It’s not there anymore. Yet, our policies are silent on the issue of subsidy,” Inciong said. “The economic team would rather blame the agriculture sector for not being competitive or for having a protectionist mindset. But obviously our farmers don’t have subsidy. Ever since we got into the WTO, we’re competing not only with foreign partners, foreign companies, but also foreign governments who subsidize their sector,” he added.
Anomalies
LAST year, former Agriculture Secretary Emmanuel F. Piñol decided to scrap the DA’s subsidies program to curtail corruption and fast-track the implementation of projects. In place of subsidies, Piñol said the DA provided farmers with an “easily accessible low-interest fi-
UHC. . .
Continued from A1
health care when it happens,” Morales said.
Lower than expected
LAST week, the Department of Health (DOH) said it is not ready for the nationwide implementation of the UHC since the government was unable to raise the needed P257 billion fund for it. Of the proposed budget, PhilHealth was supposed to get P153 billion for UHC for 2020. “But we were only given P67 billion, so that is a shortfall of P85 billion,” PhilHealth Acting Senior Vice President for Actuary Nerisa Santiago told BusinessMirror in an ambush interview. She said this was because of projected low “sin” tax collection, particularly for tobacco products, for 2020. Both DOH and PhilHealth are hoping this funding gap will be addressed once the proposed bill raising alcohol tax and vape products is passed into law.
Initial list
HEALTH officials said an initial list of 33 areas were selected for the “soft” rollout of the UHC next year. Santiago, however, said the initial list of 33 pilot areas could still be trimmed depending on the readiness of the said locations.
without “short-circuiting” the legislative process for its passage enshrined in the 1987 Constitution. He said he ordered the with-
nancing programs.” The former DA chief made the pronouncement after President Duterte gave his nod to the DA’s proposal to forego its subsidies program “which has been marked with issues of corruption and slow implementation over the years.” “This move follows the approval by President Duterte of my recommendation that the DA should start abandoning its seeds, fertilizer and farm machinery and equipment subsidies program which has been marked with issues of corruption and slow implementation over the years,” Piñol said in his official Facebook page on April 22, 2018. He cited the infamous fertilizerfund scam as one of the “most prominent” examples of “anomalies” of the DA’s farm subsidies program. Piñol added that “the yearly grants and subsidies to support farmers and fishermen bleed the government dry with billions of pesos allocated every year which could not be recovered anymore.” He said a “low-interest, easy access” financing program could eliminate corruption in the agency and ensure the improvement of the country’s agriculture sector. “It will reduce political interference and corruption in the bidding and procurement process. It will instill in the farmers and fishermen and loan beneficiaries the sense of ownership, thus reducing the risk of the seeds, fertilizers and equipment from being sold,” he added. She said the areas are now undergoing assessment to determine if they can implement the UHC in terms of personnel and facilities. “In case they are assessed to be ready to implement UHC...that is the only time we will calculate how much budget they will be given,” Santiago said. She said they estimate the implementation of UHC in the 33 areas would cost P40 billion to P50 billion. The funding of the areas will depend on the site’s historical claims from PhilHealth, case mix, and demographics.
Limited services
DURING the pilot implementation of UHC next year, Morales said they will also not be able to enforce the dental, mental and emergency services provided by the new legislation. “We will focus the budget in the area, where it will have the most impact and that happens to be medical health services,” Morales said. In preparation for the full implementation of UHC, PhilHealth said it will be starting its reorganization of personnel as well as recruitment of additional 1,000 workers by next year. “We will need to expand because the current compliment of PhilHealth might not be enough to operationalize the UHC considering the numerous changes we would have to implement,” Santiago said. Samuel P. Medenilla
drawal of GAB 2020 as House Bill 4228 on the night of August 28, as lawmakers have not yet deliberated on the budget of all government agencies. Villafuerte said the bill’s withdrawal was not an issue since it was a just a “procedural matter,” since “the presentation of the budget proposals of all government offices before the House appropriations committee have yet to be completed at the time of HB 4228’s filing on first reading.” He added: “In fact, the remaining offices that have yet to present their 2020 budget proposals are expected to finish doing so by the end of this workweek yet—so how can the House appropriations committee submit HB 4228 without
Chef Jollibee. . . “When you think about Jollibee, you think about food,” Tourism Secretary Bernadette Romulo Puyat told repor ters on the sidelines of the event. “Jollibee is probably the number one fast-food chain, and they exude good vibes. I noticed whenever we show the commercial, people are smiling. It’s something very positive and we’re quite happy; it’s the first time they’ve partnered with the Department of Tourism to promote culinary tourism.... It’s about time we tell the world how fantastic our dishes are.” She noted that travelers these days not only go to museums and tourist sites but also have a list of restaurants to visit. She added the DOT will use the AV materials produced by Jollibee in its digital media networks. “We’re doing social media first,” she said, even as she expressed hope that these AV materials would go viral like “Kwentong Jollibee,” romantic spots aired by the fast-food company on its digital platforms. She also intimated that JFC founder and chairman Tony Tan Caktiong had told her that it might be good to “show these commercials in their branches abroad.”There are 238 Jollibee branches outside of the Philippines, a number of which are now being patronized by non-Filipinos. “This food culture is what we also hope to Continued from A1
Water rates. . . Continued from A12
billion to finish their sewerage projects up to 2037. Compressing these amounts into five years would result in higher water rates since sewerage and water rates are bunched together, claimed CitizenWatch. Maynilad’s all-in average charge is around P49 per cubic meter now. This in-
Faeldon. . .
Continued from A12
with a life imprisonment sentence,” Drilon said, adding: “The SOJ has already explained that in 2015 under the former DOJ secretary now SC Justice Caguioa, all decisions to release those facing life imprisonment are approved by the SOJ.” The first question, Drilon pointed out, is “did the SOJ approve the release of the 1,914 prisoners sentenced to life imprisonment?” Second, he said, “how were the 1,914 prisoners released if they are not covered?” T he third question Dr i lon wants to raise with Jusice Secretary Menardo Guevarra, if he attends Monday’s hearing, is “whether or not he reviewed the release ng offenders convicted of heinous offenses.” Drilon invoked a provision in R A 10575, also known as the Bureau of Corrections Act of 2013 which states that “under Section 38, the DOJ shall retain authority over the power to review, reverse, revise or modify the decisions of the BuCor in the exercise of its regulatory or quasi-judicial functions.” This means, he said, that the Justice Secretary is empowered to “review, revise or modify according to law and the Department Order
having heard the presentations of all government agencies covered by the proposed 2020 GAA [General Appropriations Act]?” Villafuerte pointed out that the premature filing of HB 4228 is against the “very commitment” of the lower chamber to tackle the 2020 GAB in a “timely fashion and with full transparency.” He said the House of Representatives has ample time—the whole of September and most of October— to deliberate on the 2020 budget and ensure that there would be no repeat of the 2019 budget passage delay. The nearly two-month time frame would allow lawmakers to scrutinize the 2020 budget and ensure there would be no “pork”
highlight in this new campaign, together with classic and fusion Pinoy dishes from all over the country that I’m confident will whet anyone’s appetite regardless of nationality,” said Francis Flores, global brand chief marketing officer and Philippine marketing head of Jollibee as he presented the AV materials to the guests at the launch. Within the AVPs and TVCs, the fast-food chain also promotes its most popular offerings like the burgers, Pancit Palabok, and Chickenjoy.
More partnerships
IN a brief interview, Flores confirmed to the BusinessMirror that more partnerships may be expected between the fast-food company and the DOT. “Definitely [we’ll have more partnerships]. It’s a perfect fit.” He added, “we would like them [foreign tourists] to come here,” thus, the creation of the TVCs. Romulo Puyat said Jollibee has “already committed [to the campaign] for the next three years. This is just the start. Right now we are already talking on the next steps on how to promote Filipino cuisine fron Luzon, Visayas and Mindanao.” Separately, Jollibee AVP Cathleen Capati“we have plans ’til the end of the year. Then we’re still working on sustaining plans for next year.” She clarified that showing the AVP and TVCs in Jollibee branches abroad was “not part of the plan yet as we don’t have TVs in stores by default. But for those that do, why not?” cludes all charges like environmental fee and value added tax. For Manila Water, it is P39. CitizenWatch pointed out, “The problem now is how will they comply when the government agencies who must submit and do preparatory work are still remiss? Where is the land? Where is the overall plan from public works to guide them?” By singling out the concessionaires, the SC is actually penalizing the citizens, it said.
requires approval by the Justice Secretary in cases of prisoners sentenced with life imprisonment.” Drilon saw no conflict between R A 10575 and the GCTA Law. “There is no conflict. What this means is that if you are not convicted of a heinous crime, the SOJ’s approval is not needed. But when it comes to heinous crimes, the case requires approval of the SOJ, per the Bureau of Corrections Act of 2013.”
Palace trust
DESPITE the new controversies surrounding his current office, however, Faeldon remains a trusted Cabinet member of President Duterte for now. “The presumption is he still has the trust and confidence [of the President], until the President says [otherwise],” Chief Presidential Legal Counsel Presidential Spokesman Salvador S. Panelo said in a radio interview on Sunday. Faeldon and Justice Secretary Menardo Guevarra are among the invited source persons in Monday’s inquiry of the Senate Committee on Justice and Human Rights on the implementation of Republic Act 10592 for Good Conduct Time Allowance (GTCA). Faeldon initially said he will opt to skip the hearing, but later reconsidered after being subpoenaed by the Senate on Sunday.
allocations among its members, Villafuerte added. “We intend to meet the Speaker’s target to have the GAB passed in the House before the 18thCongress takes its first recess by end-October, so the Senate would have enough time to pass its version of this bill in December before the traditional Christmas break,” he said. “There is no need for us to shortcircuit the legislative process on the excuse that the House should pass the GAB soon enough to avoid a repeat of the 2019 budget delay,” he added. Villafuerte disclosed that House Speaker Alan Peter Cayetano was not even aware that the latter was made coauthor of HB 4228. House Committee on Appropriations
Davao City Rep. Isidro Ungab is the bill’s principal author. This, Villafuerte explained, prompted him to withdraw HB 4228 from the floor last August 28, and return it to the House Appropriations committee. “We have seen how the four-month-and-a-half delay in the passage of the 2019 has stunted GDP growth in the year’s first and second quarters,” he said. “The House leadership will not let that sorry episode in the 17th Congress happen again this time around. We owe it to our people to pass in timely fashion a 2020 budget plan that is pork-free and supportive of President Duterte’s agenda to keep the Philippine economy on its high—and inclusive—growth path,” he added.
Oil firms to roll back pump prices this week
S
EAOIL Philippines is the first oil firm to implement cuts of P0.10 per liter in gasoline prices, P0.15 per liter in kerosene and P0.10 per liter in diesel effective 6 a.m. of Monday, September 2. Pilipinas Shell and Petro Gazz said they will implement their respective price rollbacks at 6 a.m. of September 3. Other oil companies are expected
Hog disease. . . Continued from A1
Under the government’s protocol, hogs within the 1-kilometer radius of the infected farm, or ground zero, shall be depopulated or culled through approved humane measures.
Mode of killing
PIGS in the 1-kilometer radius or the infected zone could be killed by the Philippine National Police using a 0.22 caliber gun and by stunning and sticking. The destruction and disposal of infected pigs would be done through incineration, field burning, burying and combination of burning and burying. The slaughter and disposal of animals shall be done in the presence of a licensed veterinarian. Dar said the DA has already Panelo reiterated they support such investigations, wherein Cabinet members are invited by other independent branches of the government. “W hat the President doesn’t want is [for] his officials to be r udely t reated in Cong ress,” Panelo said. The GTCA enforcement is now facing scrutiny for cutting short the jail sentence of 1,914 prisoners convicted for heinous crimes. RA 10592 provides that those who committed heinous crimes will not be covered by the GTCA. Following public outrage on the GTCA implementation, Panelo said the Department of Justice (DOJ) may now consider rearresting the almost 2,000 prisoners who are unqualified for the GTCA. “We will leave it up to the DOJ to decide since the Bureau of Corrections, which allowed the release, is under it,” Panelo said.
‘Fire, charge Faeldon’
WHILE Drilon is willing to hear out Faeldon, his colleague in the minority, Sen. Risa Hontiveros, said the BuCor director “does not deserve the trust of the Filipino people.” In a statement at the weekend, Hontiveros said: “After repeatedly denying any involvement in the impending release of convicted rapist-murderer Antonio Sanchez,
to follow suit. This week ’s oil price reduction reflects movements in the world oil prices. The Department of Energy (DOE) said global oil prices were lower as concerns on the global economy continued to weigh. Last week, local oil firms rolled back gasoline and diesel prices by P0.10 per liter but raised kerosene prices by P0.10 per liter. Lenie Lectura sent blood samples to three foreign laboratories in the United Kingdom, Spain and Australia. Government officials said the laboratories are World Organisation for Animal Health (OIE) reference laboratories. OIE reference laboratories are regarded as the most competent authorities in relation to specific diseases. These laboratories provide member-countries with “diagnostic testing facilities, and, where appropriate, scientific and technical advice on disease control measures.” Both Spain and the UK have OIE reference laboratories for swine diseases, such as African swine fever and Classical swine fever, according to the OIE’s web site. The UK also has OIE reference laboratories for other swine diseases, such as swine influenza and swine vesicular disease. Jasper Emmanuel Y. Arcalas
not only was he revealed by media reports as having been involved, but his signature also appeared on an August 20 order to release Sanchez. Faeldon looked at the Filipino people square in the face, and lied. That alone is reprehensible enough. But the fact that he effectively coddled an unrepentant convicted rapist and murderer, turned a blind eye to Sanchez’s crimes while he is in prison and lied to the public, is a gross violation of the oath of office that all civil servants take.” She cited reports that are equally alarming, noting that “Faeldon’s office allegedly released a number of Chinese drug traffickers despite the opposition of the Philippine Drug Enforcement Agency (PDEA) which described the decision as ‘not conforming to the process.’” In the meantime, she said, “inmates who are more deserving to be released—pastors, teachers, prison counselors” were “bypassed for a man who smuggled drugs inside a Blessed Mary statue,” referring to prison raid a few years ago when illegal drugs were allegedly found in Sanchez’s cell. According to Hontiveros, “the greatest casualty of Faeldon’s gross incompetence and abuse of authority as BuCor chief is Republic Act 10592 which increases the GCTA that can be deducted from an inmate’s total prison term.”
www.businessmirror.com.ph
The Nation BusinessMirror
SC to use two cases involving NPAs for first trial via videoconferencing
T
HE Supreme Court on Sunday announced that two criminal cases involving two suspected members of the New People’s Army (NPA) would be pilot tested for the first-ever trial via videoconferencing, which would be held in the Regional Trial Court of Davao City. One of the cases is for frustrated murder while the other case is for multiple attempted murder. The videoconferencing which will start today, September 2, would allow the accused in the said cases to testify and be crossexamined without having the need to leave their respective detention cells. “[The] first case is frustrated murder where the PDL [person deprived of liberty] volunteered to be tried through videoconferencing. The second case is multiple attempted murder where the PDL, a suspected NPA member, fired upon security forces in an attempted ambush,” Court Administrator Jose Midas P. Marquez said. First to be subjected for videoconferencing
is Romart Mand Uy, who is facing frustrated murder for attempting to kill Bryan Villanil last July 27, 2013, by stabbing the latter in different parts of the body using a knife. The second case involves two suspected NPA members and three still unidentified coaccused. The complex crime of multiple attempted murder was filed in 2014 against Ryan Pitao, alias Ka Ryan, and Aquilino Gonzales, alias Banakon. Based on the information filed against them, the attack was done in a “sudden and unexpected manner, thereby commencing the execution of the complex crime of murder directly by overt acts but did not perform all the acts of execution which should have produced the said crime as a consequence not because of accused’s spontaneous desistance but by reason that the victims were able to take cover and fire back at the accused, and that the injuries sustained by Cpl. Glenn Emata and PFC Philip Moster were not fatal.” Joel R. San Juan
Editor: Vittorio V. Vitug • Monday, September 2, 2019 A3
Personnel, veterans to receive chunk of DND’s ₧258-B budget By Rene Acosta @reneacostaBM
A
BIGGER slice of the regular fund under the P258.35 billion that the Department of National Defense (DND) proposed as its budget for next year will go to the payment of salaries of personnel, and pensions of war veterans and retired soldiers, a copy of the proposed allocation that was submitted to Congress revealed. Based on the budget proposal, about P188.65 billion of the total budget will form part of the regular fund of the DND, which includes the Armed Forces of the Philippines and attached agencies. The latter include the Phil-
ippine Veterans Affairs Office, the Government Arsenal, Office of Civil Defense and the Veterans Memorial Medical Center. Of the P188.65 billion, P119.12 billion or about 46 percent of the total fund was earmarked for personnel services, while P40.70 billion or about 16 percent will go to the maintenance and other operating expenses (MOOE). On the other hand, P28.83 billion or 11 percent will fund the agency’s various projects or serves as capital outlay money. The capitalization for the personnel services and MOOE increased at the amount of P3.24 billion and P1.45 billion, respectively, while the capital outlay decreased for about P2.26 bil-
lion when compared to the current budget of the DND, which is lower by P2.43 billion or 1.3 percent. The increase in personnel services fund was justified by Defense Secretary Delfin N. Lorenzana during the hearing of the House Committee on Appropriations last week. Lorenzana said that the amount will be used to fund the salaries and retirement benefits of soldiers. The DND chief added that the P119.12 billion will cover the pay of 148,668 uniformed personnel, 69,938 Cafgu members and 12,400 civilian employees, which has increased in number. It will also fund the “terminal” leave and retirement gratuity benefits of soldiers. The budget proposal showed that
the total allocation for war veterans and military pensioners is at P69.70 billion or about 27 percent of the total budget, with the amount allotted for the pension of AFP retirees alone having increased by 29 percent or an equivalent of P11.93 billion. The increase was borne by the implementation of the Joint Resolution 1 or the increase in pension of military retirees. The allocation for veterans also went up by 6 percent or an equivalent of P740 million due to the implementation of Republic Act 11164 or the law mandating for the increase in old age of pension of World War II veterans from P5,000 to P20,000.
A4 Monday, September 2, 2019 • Editor: Vittorio V. Vitug
Economy BusinessMirror
www.businessmirror.com.ph
Mining, quarrying output up 15.1%–PSA
T
By Cai U. Ordinario
@caiordinario
HE value of the output of Philippine mining firms expanded by an annualized rate of 15.1 percent in 2017, according to the latest data released by the Philippine Statistics Authority (PSA). Data from the 2017 Annual Survey of Philippine Business and Industry (ASPBI) for the mining and quarrying sector showed that the industry’s output rose to P139.3 billion in 2017 from the 2016 record of P121 billion. Nonferrous metal ores, except precious metals, accounted for the
lion’s share of the total at P86 billion, or 61.7 percent. “The lowest was recorded in mining and quarrying, NEC [not elsewhere classified] with less than 1-percent share, or a total value of output of P52 million,” the PSA said. The regions that recorded the
highest mining and quarrying output were Caraga, Western Visayas and the Mimaropa region. These regions accounted for 53.2 percent, or P74.1 billion, of the total. Among these regions, Caraga had the highest value amounting to P28.4 billion, or 20.4 percent of the total. This was followed by Western Visayas and Mimaropa with P24.6 billion and P21.1 billion, respectively. PSA data also showed that the total intermediate expense incurred by the sector reached P54.9 billion in 2017. This was 21.9 percent higher than the P45 billion posted in 2016. The sector incurred expenses in the production of goods, such as materials and supplies purchased, fuels purchased, electricity and water purchased, and industrial services done by others plus beginning inventory of materials, supplies and fuels. BusinessMirror FILE PHOTO A mong indust r y groups, firms engaged in the mining of nonferrous metal ores except precious metals spent the most at P37.1 billion. This is about two-thirds, or 67.7 percent, of the total intermediate expense of the sector. Quarrying of stone, sand and clay recorded the least with P3 billion, or 5.4 percent, of the total intermediate expense. Across regions, Caraga incurred the highest intermediate expense amounting to P9.9 billion, or 18 percent, followed by Bicol region and Central Visayas.
Intermediate expense in Bicol reached P9.8 billion, while Central Visayas incurred expenses worth P9.5 billion. “The generated income per peso expense for the sector stood at 1.27 in 2017. This indicates a decrease of 0.8 percent from the income per peso expense ratio of 1.28 a year ago,” the PSA said. PSA data showed that industries that had the highest income-expense ratio were noted in the mining of hard coal, and mining and quarrying NEC, both with income per peso expense of 1.62, surpassing the national level. Support activities for other mining and quarrying reported the least income-expense
ratio of 0.96. At the regional level, Mimaropa recorded the highest return of 1.70 followed by Western Visayas at 1.61; Northern Mindanao, 1.41; Cordillera Administrative Region, 1.35; and Bicol region, 1.30. Data collected from the survey provide information on the levels, structure, performance, and trends of economic activities of the formal sector in the entire country for the year 2017. T he sur vey was conducted nationw ide in 2018 w ith the year 2017 as the reference per iod of data, except for employment where the reference per iod is as of November 15, 2017.
DENR needs bigger greening budget for next year By Jonathan L. Mayuga
@jonlmayuga
T
HE Duterte administration is asking Congress to approve its proposed budget of P5.152 billion for the implementation of the Expanded-National Greening Program (ENGP) next year. Of the total amount, around 20 percent or P4 billion is for capital outlay, while the remaining P1.062 billion is for maintenance and other operating expenses. Some P1.145 billion is allotted for maintenance and protection of 318,871 hectares of NGP/ENGP sites for the next three years. Under the proposed 2020 National Expenditure Program (NEP), the Department of Environment and Natural Resources’ (DENR) Central Office will get P141 million; Forest Management Bureau (FMB), P146 million; Ecosystems Research and Development Bureau, P67.4 million; and the DENR-National Capital Region, P7.62 million.
Regions will also get greening funds under the NEP. The Cordillera Administrative Region was allocated P249.4 million; Region 1, P363 million; Region 2, P226.8 million; Region 3, P202.95 million; Region 4A, P115 million; Region 4B, P405.8 million; Region 5, P442 million; Region 6, P430.2 million; Region 7, P225 million; Region 8, P386.7 million; Region 9, P373.4 million; Region 10, P280.38 million; Region 11, P212.9 million; Region 12, P343.7 million; and Region 13, P632.68 million. The proposed budget for the ENGP forms part of the proposed P19.93billion budget for operations of the DENR under the 2020 NEP submitted by Malacañang. FMB Director Nonito Tamayo under the proposed budget, the DENR plans to expand the country’s forest cover by 150,000 hectares with the establishment of forest plantations, which has a proposed budget of P975 million.
“Hopefully, we can convince Congress to allocate funds to expand our forest cover,” said Tamayo. This year, projects for forest expansion were halted due to the budget constraint. The P2-billion budget cut for 2019 was charged against the ENGP. Aside from native trees and fruitbearing trees, the DENR is now eyeing to establish more bamboo plantations, following Environment Secretary Roy A. Cimatu’s recent pronouncement at an international conference hosted by the Philippines wherein he affirmed the country’s commitment to promoting regional cooperation for bamboo production. ERDB Director Sofio B. Quintana believes that the massive cultivation and promotion of bamboo as an alternative to wood and timber can help reduce human pressures on terrestrial environment and eventually save the country’s remaining forest.
Advisory body reviews renewable-energy program By Lenie Lectura
T
@llectura
HE National Renewable Energy Board (NREB) is working on an updated National Renewable Energy Program (NREP) which will cover the renewable-energy (RE) road map until 2040. NREB Chairman Monalisa C. Dimalanta said the current NREP, which covers the period 2011-2030, is under review because the targets set therein were not met. “This is a good time to reassess. It’s been 10 years. The programs are in place. Let’s reassess and shift gears if we need to. Because the challenge is still there, to meet the targets, and probably to increase the targets. What we’re doing is reevaluate the program so that we can see why we did not meet the target, what work do we still need to do,” said Dimalanta. The NREP outlines the policy framework of Republic Act 9513. It sets the strategic building blocks that will help the country achieve the goals set forth in the Renewable Energy Act of 2008. Under the current NREP, the country is targeting 22,000 megawatts (MW) in RE capacity, with RE accounting for 35 percent of the total energy mix by 2030. “In the supply mix, more than 30 percent, now it’s 23 percent as of last year. Instead of increasing the share of RE in the supply mix, we’re reducing. But there are a lot of factors that explains that, it’s not just be-
cause we’re using less RE,” said Dimalanta. “There are a lot more plants that we’re built that were using non-RE. The pie got bigger with the share of non-RE getting bigger. For RE, the increase was not proportional,” she added. An official of the Department of Energy (DOE) commented on the delays in policy implementation that may have contributed for missing the targets. “The target is to triple the capacity by 2030. At the time NREP was issued, the existing RE capacity was 5,000 MW. The target is by end of 2030, it should be 15,000 MW. However, based on our assessment, around 7,000MW was recorded from 2011 to 2017,” said Mylene C. Capongcol, Department of Energy-Renewable Energy Management Bureau Director. “When we assess the NREP and its implementation, there were delays in issuances of development of support mechanism, like RPS [Renewable Portfolio Standards] on grid and off grid, GEOP [Green Energy Option Plan], RE market,” Capongcol added. An updated NREP could be out in October this year.
‘Parochial mentality’
ADVOCACY group Murang Kuryente criticized the DOE’s technology-neutral policy, saying this declaration does not rule out a moratorium on the construction of coalfired power plants in the country.
According to Murang Kuryente Spokesman Gerry Arances, Energy Secretary Alfonso Cusi’s remarks during last week’s budget hearing “betray a parochial mentality that focuses on megawatts produced, while dooming consumers to paying more for unreliable and polluting energy.” The Philippines vowed to reduce its greenhouse gas emission by 70 percent by 2030. Cusi said the DOE will continue to approve coal power plant projects “if we need it.” He added during the hearing that a “moratorium on any technology is a disservice to our country.” Murang Kuryente said the agency’s technology-neutral policy runs counter to the spirit of the directive issued by President Duterte in his State of the Nation Address. The president earlier said the country needs to develop more RE sources and reduce dependence on traditional energy sources, such as coal. The group blames the coal power plants of the country for aggravating the “power crisis” experienced in the run-up to the 2019 midterm elections. “It’s a no-brainer. If you have technology that is more reliable, more affordable, and more sustainable in producing energy, you go for it and abandon old technology, especially if it’s destructive,” he said. The Philippines is one of the few countries in the world that insists in constructing new coal-fired power plants despite a global trend to halt their continued use.
Agriculture/Commodities BusinessMirror
www.businessmirror.com.ph
Editor: Jennifer A. Ng • Monday, September 2, 2019 A5
Group asks govt to probe rice traders T By Jasper Emmanuel Y. Arcalas
@jearcalas
he Federation of Free Farmers Inc. (FFF) called on the government to look into the marketing and selling practices of traders who are now making a killing out of the relaxation of rules for importing the staple. A study by the FFF, a copy of which was obtained by the BusinessMirror, showed the supposed huge discrepancy between the landed and retail prices of imported rice. The results of the study, FFF said, indicate that certain players are raking in huge profits from cheap imports. “The data shows a huge gap of P18 per kilogram between declared import prices of rice and prevailing retail prices in July 2019,” read the paper, which was submitted to Agriculture Secretary William D. Dar last week. Using publicly available government data, the FFF computed the difference between the landed cost of imported rice and its retail price. The group found that the average retail price of regular-milled rice in July was at P38.72 per kilogram, P18.11 more than its import price of P20.61 per kg. The FFF study also showed that there was a P18.93 difference between the average retail price of well-milled rice at P43.10 per kg and its import value of P24.17 per kg. “The big gap between import and retail prices suggests that importers, wholesalers and retailer can still enjoy reasonable profits even if retail prices are brought down,” the group said.
The local rice market is no longer regulated by the government after Republic Act 11203 took effect on March 5. Currently, traders are only required to secure sanitary and phytosanitary import clearance and pay the corresponding tariffs if they want to buy rice from abroad.
Detailed analysis
Due to these findings, the FFF urged the government to undertake a detailed study of the cost components of imported rice plus the additional costs and trading margins to determine the “reasonable” retail price. With this, FFF argued, the government would be able to pinpoint those who are taking advantage of the relaxed rules and earning huge profits. “It would therefore be helpful if costs and trading margins throughout the rice value chain can be computed so as to determine a reasonable retail price level for imported rice based on a declared FOB [freight-on-board] value,” it said. “This will make it easy to pinpoint segments of the value chain where unreasonable profits are being made, and may guide the government in making the necessary interventions,” it added. The government could also analyze the
Caraga planters get more farm equipment from DA By Manuel T. Cayon @awimailbox
D
Mindanao Bureau Chief
AVAO CITY—Farmers in the Caraga region received anew various agricultural equipment from the government to help them cut postharvest losses and increase their income. The farm machines distributed to farmers on Thursday at Integrated Laboratories Compound in Taguibo, Butuan City, were valued at P290 million. Some 249 farmers’ associations received the equipment that they had requested from the Department of Agriculture (DA). The farmers’ groups received rice transplanters, tractors, rice combine harvesters, multi-crop combine harvester, corn sheller, cornmill and banana chipper. The DA also distributed seeds to planters in the region. DA-Caraga Regional Director Abel James Monteagudo appealed to farmers to maximize the equipment so they can improve their productivity. “The government is doing its best to serve
the farmers. All we need is your cooperation,” said Monteagudo. A DA-Caraga statement quoted one Richard Paburib, president of Jubang Irrigators Association of Bunawan, Agusan del Sur, as saying that the government nowadays “is extending its arm to help farmers.” “I am grateful to the DA for making us a priority. The four-wheel drive tractor that we received is a big help for our association,” Paburib said. Editha Dedumo, president of Barangay Anolingan Rural Improvement Club of Esperanza, Agusan del Sur, said the use of a farm machine enabled “the women, to operate even a rice transplanter or any farm machine since it does not require too much strength to [operate].” The DA said the provision of farm equipment will help farmers increase their income as mechanization will minimize postharvest losses. The DA said it intends to reach out to more farmers in the next round. The distribution of agricultural equipment is part of the DA’s mechanization program to eliminate losses by giving farmers free access to appropriate production and postharvest equipment.
‘Forestry sector holds great promise for PHL economy’
S
everal problems, including unconducive investment environment, continue to hinder the development of the local forestry sector, which could help boost the country’s economic growth. Citing the National Economic and Development Authority (Neda), the Philippine Wood Producers Association (PWPA) said the forestry sector is still grappling with unconducive policy for forestry investment and the absence of a national policy that addresses permanent forest limit and delineation. According to the PWPA, figures from the Forest Management Bureau of the Department of Environment and Natural Resources showed that the forestry industry contributed around P2.3 billion to the country’s gross domestic product in 2017. “To help spur growth, the government has identified specific steps to take under the Philippine Development Plan [PDP] 2017-2022 to ensure that the local forestry sector continues to be responsive to current problems,” PWPA said in a statement over the weekend. Among the solutions identified under the PDP 2017-2022 are complete delineation of final forest limits, including protection and production areas through legislation and
the promotion of sustainable forest-based industries. “The former will better equip our country to manage our forests, while the latter will ensure that livelihoods that depend on forests will be protected and made more sustainable,” PWPA said. “Another opportunity to fulfill the great promise of Philippine forestry that the government has identified is the widespread adaptation of sustainable forest management,” it added. PWPA Chairman Charlie Liu said the Philippine forestry sector is “filled with promise.” The forestry sector is comprised of 1,700 establishments that employ over 70,000 people, PWPA said. “Many Filipinos across the country depend on our industry for their livelihoods. That’s why we are adamant about campaigning for the wider adaptation of sustainable forest management,” Liu said. “We believe that through it we can empower more Filipinos who rely on the forestry sector,” he added. In line with PWPA’s campaign for sustainable forest management, the organization is holding the Philippine Wood Expo 2019 at the Sofitel Philippine Plaza on October 21 and 22. Jasper Emmanuel Y. Arcalas
relationship between the prevailing farmgate prices of unhusked rice and retail prices of milled rice to determine if unscrupulous traders are “short-shelling” farmers, FFF said. FFF added that the study may determine if the plunge in palay prices is “mainly attributable” to the entry of cheap imported rice. “The big gap between import and retail prices suggests that importers, wholesalers and retailer can still enjoy reasonable profits
even if retail prices are brought down,” the group said. “However, the government should carefully study how this can be done without further exacerbating the problems of palay producers,” it added. FFF said the implementation of a suggested retail price (SRP) on rice could help pull down prices. “If, for example, SRPs are imposed, this
may be used as a pretext by traders to lower their buying prices even further,” the group said. “This implies that, as efforts are made to bring down retail prices, these should be complemented by measures that will force importers to declare the true cost and value of the imports, and thereby provide room for local traders to proportionately adjust their buying prices upwards,” it added.
The World
A6 Monday, September 2, 2019 • Editor: Angel R. Calso
BusinessMirror
Trump’s 15% tariffs on $112B in Chinese products take effect V
www.businessmirror.com.ph
Protect or develop? Amazon fires signal growing pressure
W
ASHINGTON—The Trump administration’s latest round of tariffs on Chinese imports took effect early Sunday, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer products in advance of the holiday shopping season. The 15-percent taxes apply to about $112 billion of Chinese imports. All told, more than twothirds of the consumer goods the United States imports from China now face higher taxes. The administration had largely avoided hitting consumer items in its earlier rounds of tariff hikes. But with prices of many retail goods now likely to rise, the administration’s move threatens the US economy’s main driver: Consumer spending. As businesses pull back on investment spending and exports slow in the face of weak global growth, American shoppers have been a key bright spot for the economy. As a result of Trump’s higher
tariffs, many US companies have warned that they will be forced to pass on to their customers the higher prices they will pay on Chinese imports. Some businesses, though, may decide in the end to absorb the higher costs rather than raise prices for their customers. After Sunday’s tariff hike, 87 percent of textiles and clothing from China and 52 percent of shoes will be subject to import taxes. On December 15, the administration is scheduled to impose a second round of 15-percent tariffs—this time on roughly $160 billion of imports. If those duties take effect, virtually all goods imported from China will be covered. The Trump administration has
Argentina acts to bolster bank reserves amid uncertainty
B
UENOS AIRES, Argentina—Argentina’s central bank has barred the country’s financial institutions from paying dividends to shareholders without its authorization, seeking to bolster reserves amid investor anxieties over the apparent strength of a left-leaning presidential candidate heading to October 27 national elections. An official at the Central Bank of Argentina says the rule issued Friday is aimed at ensuring banks have enough cash on hand in case people increase withdrawals amid the “uncertainty that the country is going through.” A similar restriction was in force between 2006 and 2018, and the new rule “only applies to financial institutions,” added the official, who spoke on condition of anonymity because he was not authorized to discuss the order with journalists. The central bank’s foreign currency reserves have fallen $8.8 billion as it intervened in the markets when Argentina’s already weakened peso slumped 30 percent after the country’s August 11 political party primaries. Leftist presidential candidate Alberto Fernández’s vote total was far ahead of that for conservative President Mauricio Macri. That unsettled investors, who fear a Fernández victory could bring back the interventionist economic policies of Argentina’s 2003-2015 governments. Fernandez’s vice presidential running mate is Cristina Fernández, who was president before Macri. The two are not related. AP
been locked in a trade war with China for more than a year, spurred by its assertion that China steals US trade secrets and unfairly subsidizes its own companies in its drive to overtake the United States in such high-tech industries as artificial intelligence and electric cars. To try to force Beijing to reform its trade practices, the Trump administration has imposed import taxes on billions of dollars’ worth of Chinese imports, and China has retaliated with tariffs on US exports. The president has insisted that China itself pays the tariffs. But in fact, economic research has concluded that the costs of the duties fall on US businesses and consumers. Trump had indirectly acknowledged the tariffs’ impact by delaying some of the duties until December 15, after holiday goods are already on store shelves. A study by JP Morgan found that Trump’s tariffs will cost the average US household $1,000 a year. That study was done before Trump raised the September 1 and December 15 tariffs to 15 percent, from 10 percent. The president has also announced that existing 25-percent tariffs on a separate group of $250 billion of Chinese imports will increase to 30 percent on October 1. That cost could weaken an already
slowing US economy. Though consumer spending grew last quarter at its fastest pace in five years, the overall economy expanded at just a modest 2-percent annual rate, down from a 3.1-percent rate in the first three months of the year. The economy is widely expected to slow further in the months ahead as income growth slows, businesses delay expansions and higher prices from tariffs depress consumer spending. Companies have already reduced investment spending, and exports have dropped against a backdrop of slower global growth. Americans have already turned more pessimistic in light of the trade war. The University of Michigan’s consumer sentiment index, released Friday, fell by the most since December 2012. “The data indicate that the erosion of consumer confidence due to tariff policies is now well under way,” said Richard Curtin, who oversees the index. Some retailers may eat the cost of the tariffs. Target confirmed to The Associated Press that it warned suppliers that it won’t accept cost increases arising from the China tariffs. But many smaller retailers won’t have the bargaining power to make such demands and will pass the costs to customers. AP
Twitter CEO Dorsey’s account hacked
S
AN FRANCISCO—Hackers briefly gained control of Twitter CEO Jack Dorsey’s account on Friday, sending racist and vulgar tweets to his 4.2 million followers. Some of the tweets were up for about 30 minutes before Twitter took them down. The tweets included messages, such as “Hitler is innocent” and, using a vulgarity, asked “bald skeleton head tramp,” apparently referring to Dorsey, to unsuspend certain accounts. Twitter says it’s investigating. The San Francisco-based company suspended accounts that the hacker or hackers retweeted while they had control of Dorsey’s account. It also suspended the account that appeared to be responsible for the hack. Based on some of the tweets sent from Dorsey’s account, a group called Chuckle Squad was likely responsible. Other than getting accounts unsuspended, the group has not said why it hacked Dorsey’s account. The answer may be simply that it could. Even if Dorsey used two-factor authentication for his Twitter account, hackers have learned how to get around this extra security measure. Twitter declined to comment when asked if Dorsey used a two-factor login for his account. The incident comes as Twitter and Dorsey have promised to improve the “health” and civility of discourse on the social-media service, cracking down on hate speech and abuse. Long criticized for allowing bad behavior to run rampant, Twitter has been trying to rein in the worst offenders, banning accounts that
IN this June 7, 2019, file photo, Twitter CEO Jack Dorsey leaves after his talk with French President Emmanuel Macron at the Elysee Palace in Paris. Dorsey’s official account was hacked on Friday, August 30, 2019, and sent racist and vulgar tweets to his 4.2 million followers. AP
violate its terms and making others less visible. While Twitter says it is making progress, it has met with criticism both from those who say it’s not doing enough and from others who say it’s going too far in limiting speech. Conservatives also complain of bias. Last year, the company permanently banned right-wing conspiracy theorist Alex Jones and his Infowars show, citing abusive behavior. This is not the first time Dorsey has been hacked. In 2016, his account was taken over by the hacker group OurMine, which also attacked other high-profile social-media leaders, including the Facebook account of CEO Mark Zuckerberg. AP
ILA NOVA SAMUEL, Brazil —“Without smoke, there’s no progress,” said the Amazon rancher in a torn straw hat and cowboy boots caked in red dirt. The rancher, 75-year-old Antonio Lopes da Silva, was talking about the fires that have swept parts of one of the world’s most precious regions in recent weeks. People around the world reacted with shock at what they consider a monumental threat to the environment, but for many living in the Amazon, land-clearing fires mean survival and development. “If you don’t burn, you can’t live. But it has to be well organized” and in line with the law, said da Silva, who provides pasture for his 200 cattle. The strain between protecting and developing the Amazon, which encompasses vast rainforests as well as mid-size cities, farms and logging operations, will surely intensify even after this year’s fires subside. The Amazon, about 60 percent of which is in Brazil, is a buffer against climate change that is crucial to the planet’s health, scientists say. It is also an engine for growth whose huge spaces and natural resources are being harnessed relentlessly to help boost Latin America’s biggest economy. Rainforest makes up much of the Amazonian state of Rondonia, where da Silva lives. At 238,000 square kilometers (92,000 square miles), Rondonia is about the size of Ecuador. Vila Nova Samuel, a small frontier town, is on the fringes of the Jacunda National Forest, where some fires have occurred. Residents drive motorcycles on dirt roads lined with tire repair shops and bars where bare-chested men offer cold beer. The town is dotted with sawmills that are the backbone of its economy. Fires are set annually in Brazil, and some are legal. But the rate surged this year, leading to speculation that ranching and other business interests eager to expand holdings were emboldened by President Jair Bolsonaro’s economic development campaign. Stricter enforcement of environmental laws between 2004 and 2014 sharply curbed the rate of deforestation, but critics say the state agency in charge of protecting the rainforest is being systematically weakened under Bolsonaro. After an international outcry, his government banned setting legal fires for 60 days for land-clearing to try to rein in the burning, some of which has happened in already deforested areas. On Thursday, many people in Vila Nova Samuel didn’t want to talk about the ban, a sensitive subject. Some said they feared state reprisals if they criticized it. Tens of thousands of Brazilian troops have been made available to help put out the fires, according to Bolsonaro, who has bristled at European criticism of his environmental record.
Near Vila Nova Samuel, a jungle infantry brigade accompanied firefighters and agents of the country’s environmental enforcement agency to a brush fire that threatened to consume a wooden shack, the home of farmer Adaa Raauwendaal and his family. Inside the dirt-floor shack, Raauwendaal said he wasn’t to blame and that it was the second time in days his home had nearly been consumed by fire. The family has four cows and some chickens. “The fire doesn’t stop,” Raauwendaal said. “We do our best to put it out before it burns through everything we own.” Environmental officials in camouflage photographed the blaze as yellow-clad firefighters sprayed the flames with jets connected to backpacks filled with water. When the water ran out, Raauwendaal’s 19-yearold son, Eric, walked through the charred bushes in rubber flip-flops to deliver two buckets of water. A soldier did the same. Eric Raauwendaal also picked up a calf that he said was ill and had trouble standing on its own. “These fires happen every year,” he said. “From what I’ve seen on TV, the Amazon is the largest forest in the world, so we have to protect it.” Investigators said there was no evidence that the Raauwendaal family had set the fire. The army brigade has set up a barracks deep inside a national park. Jeeps and ambulances were parked in the forest close to a pile of huge logs legally owned by a timber company. Some soldiers handled equipment and waited for the convoy to return from firefighting missions, while others napped on hammocks, exhausted from the search for illegal fires in the rainforest. Orange butterflies fluttered nearby. During the missions, red motorcycles with sirens followed the military jeeps and camouflage-painted ambulances in what seemed like an off-road rally through the jungle. Maj. Fabio da Paixão Pinheiro said rain has doused many fires in the recent days. “The damage would have been much worse if our team had not arrived,” he said about the blaze at the Raauwendaal land that had leaped from a barbed-fenced field into the forest. “The vegetation is really dry.” Still, even with the military’s efforts, the task of locating and extinguishing fires across the vast Amazon seems overwhelming. On Thursday, a cacophony of calls from toucans and howling monkeys emanated from the lush forest of towering nut trees near Vila Nova Samuel. But many areas had been charred to ashes. Da Silva said he knows what needs to happen. “The Amazon needs to organize its lands,” the elderly rancher said. “Better roads, because we don’t have any.” AP
Taliban attack second Afghan city as US envoy says agreement is at hand
K
ABUL, Afghanistan—The Taliban launched an attack on a second Afghan city in as many days on Sunday, an official said, even as a United States envoy says the US and the Taliban are “at the threshold of an agreement” to end America’s longest war. The spokesman for the Baghlan province police chief, Jawed Basharat, said gunbattles continued on the outskirts of its capital, Puli Khumri. There was no immediate word on any casualties. The attack came a day after the Taliban attacked Kunduz, one of Afghanistan’s largest cities, in the province to the north and killed at least 16 people and wounded nearly 100. The interior ministry on Sunday said the Taliban had been cleared from that city but some fighters had fled to Baghlan.
“We hear the sound of blasts. The people are so worried,” Safdar Mohsini, chief of the Baghlan provincial council, told The Associated Press. “The Taliban are in residential areas fighting with Afghan security forces. We need reinforcements to arrive as soon as possible, otherwise the situation will go from bad to worse.” If the Taliban enter the city they will be very difficult to repel, Mohsini added, saying security forces at some checkpoints had run away without resistance. The city is 140 miles (230 kilometers) north of Kabul. The attacks are seen as strengthening the Taliban’s negotiating position in the talks with US envoy Zalmay Khalilzad, who for nearly a year has sought a deal on a US troop withdrawal in exchange for Taliban guarantees that Afghanistan will not
AFGHAN security forces arrive during a fight against Taliban fighters in Kunduz province north of Kabul, Afghanistan, on Saturday, August 31, 2019. The Taliban have launched a new large-scale attack on one of Afghanistan’s main cities, Kunduz, taking hospital patients as hostages, the government said on Saturday, even as the insurgent group continued negotiations with the United States on ending America’s longest war. AP
be used as a launch pad for global attacks. Critics have warned, however, that the Taliban are merely waiting out the US and that another US goal
of the talks, a cease-fire, likely will not happen as foreign troops leave. Khalilzad said he was visiting Kabul on Sunday to brief the Afghan
government on the details of a deal that is not yet final. The latest round of talks with the Taliban in Qatar had ended, he said. The new attack in Baghlan came hours after Khalilzad said he raised the Kunduz attack in his talks with the Taliban and told them “violence like this must stop.” Despite the warning, the US envoy appeared determined to move forward on a deal that plans for the withdrawal of some 14,000 remaining US troops in Afghanistan, where they train and support Afghan forces but also come to their aid with airstrikes and counterterror operations. The approaching agreement with the Taliban “will reduce violence and open the door for Afghans to sit together to negotiate an honorable and sustainable peace and a unified, sovereign Afghanistan that does not
threaten the United States, its allies, or any other country,” the Afghanborn Khalilzad said on Twitter. A US official with the negotiation team said Khalilzad in Kabul would meet with a wide range of Afghans, including the government leadership. “We can tell you that any potential peace deal will not be based on blind trust, but will instead contain clear commitments that are subject to our monitoring and verification,” the official said. “Any potential deal would bring together all sides for negotiation, enable the withdrawal of American forces and ensure the security of the American homeland.” The official spoke on condition of anonymity because the official wasn’t authorized to discuss the matter with the media. AP
www.businessmirror.com.ph
The World BusinessMirror
Monday, September 2, 2019 A7
HK police storm subway with batons as protests rage
H
ONG KONG—Protesters in Hong Kong threw gasoline bombs at government headquarters and set fires in the streets, while police stormed a subway car and hit passengers with batons and pepper spray in scenes that seem certain to inflame tensions further in a city riven by nearly three months of pro-democracy demonstrations. Police had denied permission for a march Saturday to mark the fifth anniversary of a decision by China against fully democratic elections in Hong Kong, but protesters took to the streets anyway, as they have all summer. They provoked and obstructed police repeatedly but generally retreated once riot officers moved in, avoiding some of the direct clashes that characterized earlier protests. Late at night, though, video from Hong Kong broadcaster TVB showed police on the platform of Prince Edward subway station swinging batons at passengers who backed into one end of a train car behind umbrellas. The video also shows pepper
spray being shot through an open door at a group seated on the floor, while one man holds up his hands. It wasn’t clear whether all the passengers were protesters. Police said they entered the station to make arrests after protesters assaulted others and damaged property inside. The TVB video was widely shared on social media as another example of police brutality during the protests. Angry crowds gathered outside Prince Edward and nearby Mong Kok station, where police said they made arrests after protesters vandalized the customer service center and damaged ticket machines. Also Saturday, two police officers fired two warning shots into
the air “to protect their own safety” after being surrounded by protesters near Victoria Park, the government announced. It was the second time police fired warning shots following an incident the previous weekend. Protests erupted in early June in Hong Kong, a semiautonomous Chinese territory of 7.4 million people. A now-shelved China extradition bill brought to the fore simmering concerns about what many in the city see as an erosion of the rights and freedoms that residents are supposed to have under a “one country, two systems” framework. The mostly young, black-shirted protesters took over roads and major intersections in shopping districts on Saturday as they rallied and marched with no obvious destination in mind. Authorities closed streets and a subway stop near the Chinese government office and parked water cannon trucks and erected additional barriers nearby, fearing protesters might target the building. The office would have been the endpoint of the march that police did not allow. Instead, a group of hardline protesters decided to take on police guarding government headquarters from behind large barriers that ring the building to keep demonstrators at bay. While others marched back and forth nearby, a large crowd wearing helmets and gas masks gathered
A PROTESTOR uses a shield to cover himself as he faces policemen in Hong Kong on Saturday, August 31, 2019. Protesters and police are standing off in Hong Kong on a street that runs through the bustling Causeway Bay shopping district. AP
outside. They pointed laser beams at the officers’ heads and threw objects over the barriers and at them. Police responded with tear gas, and protesters threw gasoline bombs into the compound. Then came the blue water. A water cannon truck fired regular water, followed by repeated bursts of colored water, staining protesters and nearby journalists and leaving blue puddles in the street. The standoff continued for some time, but protesters started moving back as word spread that police were headed in their direction. A few frontline protesters hurled gasoline bombs at the officers in formation,
but there were no major clashes as police cleared the area. Protesters regrouped and blocked a major commercial street by piling up barricades and setting a large fire. Smoke billowed into the air as hundreds of protesters waited on the other side of the makeshift barrier, many pointing laser beams that streaked the night sky above them. Firefighters made their way into the congested area on foot to put out the fire. Police in riot gear removed the barricades and moved in quickly. They could be seen detaining a few protesters, but by then, most had already left. As police advanced east down
Hennessey Road, protesters made another stand in the Causeway Bay shopping district. They threw gasoline bombs at police, who fired tear gas and water cannons. Protesters built another fire, a smaller one, in front of Sogo department store. Police waited behind their riot shields while firefighters put out the smoldering fire with extinguishers. When police moved in, the protesters had again retreated. Other groups crossed Hong Kong’s harbor to the Tsim Sha Tsui district, where police said they set fires and threw gasoline bombs on Nathan Road. Democratic Party lawmaker Lam Cheuk-ting said Hong Kong citizens would keep fighting for their rights and freedoms despite the arrests of several prominent activists and lawmakers in the past two days, including activist Joshua Wong. Protesters are demanding the full withdrawal of the extradition bill—which would have allowed Hong Kong residents to be sent to mainland China to stand trial—as well as democratic elections and an investigation into police use of force. “I do believe the government deliberately arrested several leaders of the democratic camp to try to threaten Hong Kong people not to come out to fight against the evil law,” Lam said at what was advertised as a Christian march earlier Saturday. AP
Green Monday BusinessMirror
A8 Monday, September 2, 2019
www.businessmirror.com.ph • Editor: Lyn Resurreccion
Lake Lanao in peril Population growth, pollution, invasive alien species, peace and order threaten ancient Philippine lake
C
By Jonathan L. Mayuga
aught in the crossfire of the infamous Marawi Siege, Lake Lanao in the province of Lanao del Sur that is now under the newly organized Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) is in peril and may end up as collateral damage.
The traditional home of the Meranaw or Maranao, one of several Muslim ethnolinguistic groups in Mindanao, Lake Lanao, is one of the oldest lakes in the Philippines. Scientists believe it to be more than 2 million years old. It is the second biggest in land freshwater body that provides a valuable life support system to the communities that depend on the bounty of the Lake Lanao River Basin. Lake Lanao has an inland water area of 336 hectares. Its surface area is pegged at 36,000 hectares.
Serious threats
The threats the lake and its surrounding environs is facing are real. Problems besetting Lake Lanao are encompassing food security and safety, population growth, water quality and safety, and pollution. The lake’s biodiversity is also suffering severely. It is believed that 18 native fish species that used to thrive in the lake have gone extinct. A possible reason: the introduction of 12 different nonnative fish species to enhance the lake’s fish production. Various studies conducted by experts indicate that the lake is facing serious environmental problems. According to the policy brief Series published by the National Research Council of the Philippines (NRCP) of the Department of Science and Technology (DOST), Lake Lanao can be classified as an oligotrophic lake which means it has “low primary productivity as a result of low nutrient content.” On a positive note, oligotrophic lakes have low algal production
Lake Lanao
and often have very clear waters with high drinking water quality.
Saklaw Program
The six independent NRCP researchers in Lake Lanao under the “Saklaw” or Saklolo sa Lawa Program of the NRCP undertaken between 2015 to 2017 suggest that “the weak lake governance can further deteriorate the condition of the lake which may become detrimental to people’s health and wellness.” The research was done by experts from the Mindanao State University-Iligan Institute of Technology and the Marawi campuses to assess the lake’s condition. Here’s why: Households from Marawi City and the 17 municipalities bordering the lake use its resources as disposal sink for both domestic and business wastes. Human pressure on the lake and its resources is on the rise with the increasing population under a business-as-usual scenario. The deterioration of the lake’s water quality becomes apparent with the water level drastically receding and reduced catch of fishes and shrimps. Scientists also observed fecal contamination levels from the bank and up to 25 meters lakeward, rendering the water unsafe for drinking. The lake is also suffering from loss of endemic fishes, indicating possible extinction of native fish to due changes in the lake’s natural equilibrium.
Priority Upper River Basin
L ake Lanao, or the Lake Lanao River Basin, was identified as a priority site for the Integrated Natural Resources and Environmental Management Project (In-
photo from the Municipality of Madamba, Lanao del Sur
remp) along with the Chico Upper River Basin in the Cordillera Administrative Region (C AR), the Wahig-Inabanga River Basin in Central Visayas, and the Bukidnon Upper River Basin in Northern Mindanao. Inremp is one of the major projects of the Department of Environment and Natural Resources-Forest Management Bureau (DENRFMB) to address unsustainable watershed management in the Philippines. With particular focus on indigenous peoples and resource-poor communities, the project aims to reduce and reverse the degradation of watersheds and associated environmental services caused by forest denudation and unsustainable farming practices. However, due to peace a nd order concer n s, L a n ao L a ke w a s d ro p p e d f rom t he pro gram’s roster, ex plained DENR A ssist a nt Secret a r y for St a f f Bu reaus R ica rdo C a lderon. “Lake Lanao is supposed to be part of Inremp project as one of the pilot sites, but because of peace and order situation, the implementation was held in abeyance,” Calderon said. A major factor was the Marawi Siege which saw state forces—both the police and military waging all-out war to flush out suspected Islamic State-inspired terrorists that held the entire Islamic city of Marawi hostage for five months. Being a watershed reservation, Calderon underscored the need to protect and conserve the entire Lanao Lake River Basin. Director Nonito Tamayo of the DENR-FMB justified the decision to let go of Lake Lanao from Inremp, citing the peace and order problem at the time. Nevertheless, he said the rehabilitation of the lake has been integrated in the proposed rehabilitation of Marawi City. Nevertheless, he is confident that the BA R MM, which has jurisdiction over the predominantly Muslim region, will do an equally good job in protecting and conserving the lake.
Rich biodiversity
L ake Lanao was proclaimed a watershed reserve by virtue of Proclamation 871 on February 26, 1992. Considered as an important biodiversity site in the Philippines,
it is one of the priority sites for conservation. The lake is home to 18 endemic species of freshwater fish and supports a large number of waterfowls. In two barangays that were surveyed during the preparation of the Integrated Development Plan of the Watershed alone, a total of 27 species of trees, shrubs and vines were observed. More important, 41 medicinal plant species naturally occur in the forests. There are six bird species in the watershed. Among them are the white-collared kingfisher, slender bird crow and cattle egret.
Hydropower
Lake Lanao has five watersheds with rivers and major tributaries, totaling 431 kilometers, according to a biological profile posted on the official web site of Inremp. The waters from these rivers and tributaries drain into the lake and goes out through the Agus River in Lanao del Norte that flows southwest into Iligan Bay via two channels—the Maria Cristina Falls, the largest waterfall in the country, and Linamon Falls. Besides being a source of food and water, a hydroelectric plant that feeds from the Lanao Lake and Agus R iver generates 70 percent of the electricity that energizes Mindanao. Agus R iver alone supports seven hydroelectric power plants of the National Power Cor p. (NPC) with a combined capacity of 727 megawatts.
Policy recommendations
The NRCP which funded the six independent studies came up with policy recommendations that are anchored on strengthening the governance of Lake Lanao. This will require a review of relevant laws affecting the protection and conservation of the lake, and the consequent harmonization of policies or guidelines for better synergy. It also calls for the creation of a Regional Multi-sectoral Lanao Lake Development Authority and the organization of a communitybased “Bantay Ranaw Task Force” for participatory monitoring and protection of the lake. Another recommendation is the formulation and implementation of a Lake Lanao Sustainable Development Roadmap. Moreover, the management of Lake Lanao and its resources— through addressing research and development gaps on renewable energy, biodiversity, water safety and sustainability, food safety and security and on culture and heritage—must be done. It was a lso emphasi zed by the proponents of the independent researches that measures towa rd more responsive a nd responsible commu nit ies for t he protect ion of t he hea lt h a nd w e l l ne s s of t he p e o pl e a rou nd t he l a ke is a must. This will include the review of public toilet facilities in every mosque and public establishments around the lake to prevent seepage of sewage into the lake, a common problem encountered inland water bodies with increasing human pressures. Given its importance to the people of Mindanao, particularly the Meranaw or Maranao— whether as a source of food, water, income and, more important, as a way of life—protecting and conserving Lake Lanao cannot be overemphasized.
A fire burns trees and brush along the road to Jacunda National Forest, near the city of Porto Velho in the Vila Nova Samuel region, which is part of Brazil’s Amazon on August 26. AP/Eraldo Peres
Amazon’s role in global climate change
R
IO DE JANEIRO—Fires across the Brazilian Amazon have sparked an international outcry for preservation of the world’s largest rainforest. Here’s a look at the role the Amazon plays in regulating the world’s climate:
Is the world’s oxygen supply at risk?
No. While it’s commonly said that the Amazon produces 20 percent of the world’s oxygen, climate scientists say that figure is wrong and the oxygen supply is not directly at risk in any case. That’s because forests, including the Amazon, absorb roughly the same amount of oxygen they produce. Plants do produce oxygen through photosynthesis, but they also absorb it to grow, as do animals and microbes. That doesn’t mean the fires aren’t a problem for the planet. The Amazon is a critical absorber of carbon dioxide (CO2), a greenhouse gas produced by burning fossil fuels, like oil and coal.
Is the Amazon “the lungs of the planet?”
The Amazon rainforest is frequently referred to as the “lungs of the planet,” but it may not be the most accurate analogy for the forest’s role. Ca r l o s No b re, a U n i ve r s i t y o f S ã o Paulo climate scientist, says a better way to picture the Amazon’s role is as a sink, draining heat-trapping carbon dioxide from the atmosphere. Currently, the world is emitting around 40 billion tons of CO2 into the atmosphere every year. The Amazon absorbs 2 billion tons of CO2 per year (or 5 percent of annual emissions), making it a vital part of preventing climate change.
What do the fires in the Amazon mean for the world’s climate?
Fires in the Amazon not only mean the carbon-absorbing forest is disappearing, but the flames themselves are emitting millions of tons of carbon everyday. Nobre says we’re close to a “tipping point” that would turn the thick jungle
into a tropical savannah. The rainforest recycles its own water to produce a portion of the region’s rain, so deforestation makes rains less frequent, extending the dry season. Nobre estimates that if 20 percent to 25 percent of the forest is destroyed, the dry season will expand enough that it will no longer be a forest, but a savannah. “Unfortunately, we are already seeing signs of the Amazon turning into a savannah,” he said, citing the increasingly long dry seasons. “It’s not just theoretical anymore, it’s happening already.”
What is causing the fires?
The current fires in the Amazon are not wildfires. They are manmade and are mostly set illegally by land-grabbers who are clearing the forest for cattle ranching and crops. Deforesting the Amazon is a long, slow process. People clear the land by cutting down the vegetation during the rainy season, letting the trees dry out and burning them during the dry season. Fully clearing the dense forest for agricultural use can take several years of slashing and burning. “When I’m talking about 21st-century deforestation, I don’t mean a family headed into the woods with a chainsaw,” said Nasa researcher Doug Morton. “I mean tractors connected by large chains. They’re pulling trees out by their roots.” He said researchers could see piles of trees months ago in satellite images. “They’re burning an enormous bonfire of Amazon logs that have been piled, drying in the sun for several months.” “What has changed is the political discourse,” Nobre said. President Jair Bolsonaro has decreased the power and autonomy of forest protection agencies, which he says get in the way of licensing for developing land and accuses of being “fines industries.” “The number of fires increasing is because people think law enforcement won’t punish them,” Nobre said. AP
700,000 people using GCash Forest to save the watershed
M
ore than 700,000 GCash users have joined the movement to plant trees through GCash Forest, a carbon tracking feature of GCash, to help save the watershed that supplies water to Metro Manila. Ney Villaseñor, chief Corporate Affairs officer at Mynt, which runs the country’s leading mobile wallet, said 756,370 people have signed up to collect green energy through GCash Forest as of August 19. That translates to almost 400,000 people using the new feature every month since it was launched on June 25. GCash Forest is a personal carbon account that tracks how much emission p e o p l e h ave avo i d e d by l i v i n g m o re consciously. “G reen” ac tivities—such as walking, bringing eco-bags and own utensils, going cashless, reducing paper use—earn users energy points. When they have enough points, they get to plant a virtual tree in GCash Forest, which GCash will match with a real, native tree planted at the Ipo watershed. “GCash Forest is the easiest way to help the environment; you don’t even have to go out of the city or to make time outside of work/school to plant a tree. You simply need to make daily choices that will lessen your carbon footprint, such as going cashless
when you send money, buy load or pay bills, or walking instead of taking your car. GCash will turn these actions into reforestation efforts,” Villaseñor said. G Ca s h , i n p a r t n e r s h i p w i t h W W F Philippines, has adopted 300 hectares for rehabilitation and reforestation inside the Ipo watershed. WWF will monitor and repor t the growth of trees sponsored by GCash for three years, which is usually how long it takes to see any changes in a reforestation or rehabilitation site. The 7,236-hectares Ipo watershed, which spans the provinces of Bulacan and Rizal, is part of the Angat-Umiray-Ipo watershed system that supplies 98 percent of Metro Manila’s water. It has been declared a protected area by the Department of Environment and Natural Resources but forest cover in the watershed is now only at 40 percent, a drastic drop from 85 percent several years ago. “Planting a tree not only helps with carbon reduction but also results in water security and biodiversity conservation. Every decision we make has an impact, whether positive or negative. In helping GCash users to adopt a more environment-conscious lifestyle, we are raising a generation of green heroes,” Villaseñor said.
Biodiversity Monday BusinessMirror
Asean Champions of Biodiversity Media Category 2014
Monday, September 2, 2019
Editor: Lyn Resurreccion • www.businessmirror.com.ph
Asean joins negotiations on global pact to safeguard life on earth
A
sean member-states (AMS) and the Asean Center for Biodiversity (ACB) joined talks last week on a global agreement to safeguard all forms of life on Earth. Participated in by 196 countries, it was the first meeting of the Open-Ended Working Group for the Post-2020 Global Biodiversity Framework held in Nairobi, Kenya, from August 27 to 30. Other participants were representatives from state parties to the United Nations Convention on Biological Diversity (CBD), experts, indigenous peoples and communities, and stakeholders from around the world. State parties to the CBD are expected to adopt the post-2020 global biodiversity framework during their 15th Conference of the Parties (COP 15) in October 2020 in Kunming, China. The new framework represents the world’s plan to halt the alarming trends in the state of nature. According to the Global Assessment on Biodiversity by the Intergovernmental SciencePolicy Platform on Biodiversity and Ecosystem Services, 75 percent of the Earth’s land surface has been significantly altered, 66 percent of the ocean area is experiencing increasing cumulative impacts, and over 85 percent of wetland areas have been lost. Interventions by human activities threaten more species with global extinction now more than ever before. Around 1 million species face extinction unless action to reduce biodiversity loss is taken. The recent Intergovernmental Panel on Climate Change Special Report on Climate Change and Land shows the adverse effects of climate change, among them, the degradation of the world’s key biodiversity areas. If temperatures rise by 2°C above preindustrial levels, one-third of these areas will be affected. At 4.5°C, two-thirds of these rich biodiversity areas will experience the impact. Meanwhile, the 2019 World Economic Forum Global Risks Report noted that environmental issues like extreme weather events, failure of climate change mitigation and adaptation, natural and human-induced disasters, and biodiversity loss and ecosystem collapse are among the world’s top 10 risks with the greatest likelihood to happen and impact. The post-2020 global biodiversity framework aims to respond to these ecological concerns. In this new framework, state parties aim to build on the CBD’s current Strategic Plan on Biodiversity (2011-2020), which was adopted in 2010. The framework is expected to facilitate
transformative change by taking a holistic approach to the multiple crises facing the planet and all its inhabitants, and leveraging opportunities to invest in biodiversity. Through nature-centered development pathways, the framework will set the course to achieving the CBD’s vision of “Living in Harmony with Nature” by 2050. The Nairobi negotiations are drawing on extensive consultations that have taken place around the globe this year. In the Asean, the ACB has convened consultations among the AMS and key partners in the region to craft Asean’s contribution to the post-2020 global biodiversity framework. The first meeting was held on April 24 in Manila, and the second was held on May 8 in Vientiane, Lao PDR. The ACB synthesised all AMS’ inputs and submitted these to the CBD. In their inputs, the AMS identified mainstreaming, resource mobilization, communication and integrating diverse perspectives as four action areas to achieve the vision for 2050. The AMS also recognized the need for transboundary cooperation among countries to address key biodiversity issues; and strengthening linkages among Asean pillars, such that crosssectors should be part of action plans, allowing different sectors to be engaged in one another’s activities. It also saw the need for transformation of mindset to see the AMS as one community working together to increase investment in biodiversity protection, conservation and wise use. The ACB is an intergovernmental organization that facilitates cooperation and coordination among the 10 AMS and with regional and international organizations on the conservation and sustainable use of biological diversity, and the fair and equitable sharing of benefits arising from the use of such natural treasures. “As we work toward living in harmony with nature in 2050, mainstreaming of biodiversity is essential,” ACB Executive Director Theresa Mundita Lim said. “Biodiversity is where we get our food, ingredients for medicine, materials for our clothing and shelter, and raw materials for businesses and industries. Biodiversity is interconnected with all development sectors.” The ACB is working to mainstream biodiversity in the key development sectors of agriculture, fisheries, health, tourism, manufacturing and processing, education and climate change.
Protection of sharks and rays OK’d
G
ENEVA—Countries have agreed to protect more than a dozen shark species at risk of extinction, in a move aimed at conserving some of the ocean‘s most awe-inspiring creatures who have themselves become prey to commercial fishing and the Chinese appetite for shark fin soup. Three proposals covering the international trade of 18 types of mako sharks, wedgefishes and guitarfishes each passed with a needed two-thirds majority in a committee of the World Wildlife Conference known as CITES on Sunday. “Today we are one step closer to protecting the fastest shark in the ocean, as well as the most threatened,” said Jen Sawada, who directs The Pew Charitable Trusts’ shark conservation work. The measures don’t ban fishing these sharks and rays, but any trade must be sustainable. The move isn’t final but is a key sign before an official decision at its plenary this coming week. Conservationists applauded and exchanged hugs after the tallies. Opponents variously included China, Iceland, Japan, Malaysia and New Zealand. The US voted against the mako shark measure, but supported the other two. Critics variously argued that the measures distanced CITES from its initial mandate to protect endangered land animals and plants, not marine life, and insisted the science didn’t back up the call to increase protections. They also noted that that millions of Mako sharks exist and even the CITES secretariat advised against the protections. But proponents countered that stocks of sharks are in a deep dive, with tens of millions killed each year, and that measures need to be taken now— with what they call some of the most significant rules ever adopted for trade in shark parts. Rima Jabado, a shark expert and lead scientist of the Gulf Elasmo project, said many of the species included in the CITES proposals are classified as “critically endangered.” Jabado said there has been an 80-percent decline in the number of wedgefishes, based on available data. Like giant guitarfishes, the enigmatic wedgefish has an elongated triangleshaped head and can be found in oceans in Southeast Asia, the Arabian Sea and East Africa. Makos are the world’s fastest sharks, reaching speeds of up to 80 mph (nearly 130 kph). But they often get caught up in the nets of fishing trawlers hunting for tuna. Several countries with large fishing fleets, including Japan, opposed the measure to protect
mako sharks. “Japan has been highly dependent on [live] marine resources from the ancient times,” said Hideki Moronuki, director of fisheries negotiations at the Japanese Ministry of Agriculture, Forestry and Fisheries. “It’s very, very important for us in Japan to sustainably use all those marine riches,” he said. He was among those who noted that even the CITES secretariat had recommended rejecting the mako shark proposal. CITES concluded that “with the possible but uncertain exception of the Mediterranean, the population of [mako sharks] does not seem to have declined below the 30 percent threshold in different ocean regions” and that “it is currently not projected that declines would continue.” Still, Jabado said some species of sharks and rays are becoming so difficult to find in the wild that scientists only often see them when they are on sale at local fish markets. “How are we ever going to save these species if we only see them when fishermen bring them in?” she said, adding that even if actions are taken now, it will be decades before shark populations start to recover. Losing more sharks and rays could also have other unintended consequences since they are top ocean predators and help to balance the ecosystems, Jabado said. Scientists warn that although warming oceans and climate change are also hurting sharks, it is the demand for shark fin soup that is threatening to drive some species to extinction. The Pew Trust estimates that between 63 million and 273 million sharks are killed every year, mostly to feed the shark fin trade centered in Hong Kong. Dried shark fin can draw up to $1,000 per kilogram. The fins are often turned into shark fin soup, a Chinese delicacy that symbolizes good fortune, in which the gelatinous fin is served in a broth whose recipe dates back to the 10th-century Song Dynasty. Fishermen often slice off a shark’s fin while the animal is still alive before tossing the writhing carcass back into the ocean. While Chinese celebrities like retired basketball star Yao Ming are trying to persuade diners to abandon the soup, many aren’t convinced. “Shark fin soup is a Chinese tradition so why should I stop eating it?”Wilson Kwan said outside a seafood restaurant in London’s Chinatown. “I know some people say it’s cruel to sharks, but sharks are killers too.” AP
A9
Countries agree to limit sales of elephants to zoos
G
ENEVA—Countries have agreed to limit the controversial sale of wild elephants caught in Zimbabwe and Botswana, to the delight of conservationists but the dismay of some of the African countries involved.
Wildlife experts say the vote last week at a conference in Geneva on trade in endangered species known as CITES is a “momentous win” for elephants because it restricts their sale to zoos. The European Union tweaked the language of the resolution to reach a compromise that limits exports of live elephants outside of Africa but allows for some exceptions relevant to Europe. Conservationists explained, for example, this would allow for an elephant already in France to be shipped to nearby Germany without having to be sent back to Africa first. But the new resolution means zoos will no longer be able to import wild-caught African elephants to the US, China and many other countries beyond the elephants’ natural habitat. The resolution passed by a vote of 87 in favor, 29 against and 25 abstaining. The US voted against it. Animal advocates applauded the move, even though some felt it didn’t go far enough. “ W hi le it is d isappointing
that it is not an outright ban on trade in live elephants, the new language adds vital independent oversight and scrutiny,” said Audrey Delsink, wildlife director at Humane Society International. “The capture of wild African elephants for export to zoos and other captive facilities is incredibly traumatizing for individual elephants, as well as their social groups,” she said in a statement. Doz en s of ce lebr it ies, i ncluding actress Judi Dench and comedian R icky Ger vais, had signed a letter to EU President Jean-Claude Juncker saying it would be “obscene for the EU to endorse snatching wild baby elephants and condemning these
Elephants roam in the Hwange Game Reserve in Zimbabwe in this August 6, 2015, photo. AP/Tsvangirayi Mukwazhi
beautiful leviathans to a life of captive misery.” Even renowned conservationist Jane Goodall weighed in, saying she was “absolutely shocked” at the idea of separating young elephants from their families and shipping them off to zoos. Some African officials, however, said the new proposal would deny them some much-needed cash and that they should be free to do what they wished with their elephants. “ The government has been pumping out a lot of money for
The capture of wild African elephants for export to zoos and other captive facilities is incredibly traumatizing for individual elephants, as well as their social groups.”—Delsink
conservation with no real return, yet our government has competing social needs,” said Tinashe Farawo, spokesman for Zimbabwe Parks and Wildlife Management Authority. “We view our animals as an economic opportunity, so we should sell our elephants.” Farawo said that Zimbabwe, Botswana, Namibia and other southern African countries would meet for consultations following the CITES meeting. “We cannot continue to be hamstrung and told what to do with our resources,” Farawo said. “We cannot continue to allow powerful countries and NGOs [nongovernment organizations] to set the agenda when the elephants are ours,” he said, disputing there was any conservation concern. “We have too many of them so selling them should not be a problem for anyone. Why should we continue to impoverish our people when we have the resource?” AP
Collective approach urged for species, ecological management
‘T
he goal of maintaining the health of our fragile ecosystem depends on our pragmatic approach to c o n s e r v at io n ,” s a i d R a i n i e r Manalo, president of the Biodiversity Conservation Society of the Philippines (BCSP). Manalo made the statement during the 28th annual Philippine Biodiversity Symposium attended by hundreds of conservationists, scientists, independent researchers, government representatives and students at the Visayas State University, Baybay, Leyte, last month. With the theme, “Conservation Without Borders,” this year’s symposium sought to highlight the interconnection among various conservation efforts, such as species protection, the ridge-toreef approach and biodiversity management. Manalo emphasized the importance of ensuring the sustainability of all conservation actions and the vital role of all stakeholders, including the public and business sectors, in upholding environmental and sociocultural development. During the four-day event, highschool and undergraduate research reports, scientific paper presentations, and simultaneous talks and workshops were held. The symposium encompassed various biodiversity conservation topics, including taxonomy, flora and fauna (plant and animal life), threats and issues, and conservation management. Anson Tagtag, chief of the Department of Environment and Natural Resources Biodiversity Management Bureau, Wildlife Management Section, and Juan Carlos Gonzales, zoology professor and director of the University of the Philippines Los Baños Muse-
Haribon researcher J Kahlil Panopio (center) in front of his poster during the 28th annual Philippine Biodiversity Symposium.
um of Natural History, presented the updated Philippine Red List for terrestrial fauna, or the list of threatened land-based wildlife species in the country. During the plenary talk, Tagtag and Gonzales also explained the criteria used for the categories assigned, the basis of the threats, and challenges and issues arising from its implementation across archipelagic Philippines. Local conservation group Haribon Foundation also gathered conservation experts in a workshop that aims to assess current and identify new priority areas for conservation in the country, also known as key biodiversity areas (KBAs), using the updated global guidelines by the International Union for Conservation of Nature (IUCN). Unlike the previous versions, the new IUCN criteria for KBA includes the identification of threatened ecosystems, preservation of ecological integrity and preservation of biological processes. Besides the overall KBAs, the
workshop also aimed to identify sites under the Alliance for Zero Extinctions (AZE) framework, which are said to be the most important site among all KBAs. According to Haribon, AZE sites are critical to the sustenance of global biodiversity as they provide homes to threatened wildlife that are found nowhere else in the planet. Participants also joined an exposure trip to the Leyte Sab-a Peatland, one of the two major peatland sites in the country. It covers four barangays of the municipality of Santa Fe and Alangalang, Leyte, and considered important in climate regulation and wildlife conservation. Symposium activities included exhibits of groups involved in biodiversity research and conservation, including the Asian Species Action Partnership; Buhay-ilang Research, Education and Conservation Inc.; Center for Conservation Innovations Philippines Inc.; Center for Centered Conservation;
Crocodylus Porosus Philippines Inc.; Energy Development Corp.; Forest Foundation Philippines; GIZ Ecosystem-based Adaption in River Basins Project; Haribon Foundation for the Conservation of Natural Resources Inc.; International Institute of Rural Reconstruction; Isla Biodiversity Conservation; Katala Foundation; Mindoro Biodiversity Conservation Foundation Inc.; Talarak Foundation; TeaM Energy Foundation Inc.; Traffic Southeast Asia; United State Agency for International Development Protect Wildlife Project; UP Diliman Institute of Biology Biodiversity Research Laboratory; UPLB Museum of Natural History; Wetlands International; Wild Bird Club of the Philippines; and Zoological Society of London. The event was organized by the BCSP, a professional organization of wildlife researchers, scientists and conservationists, in partnership with the Leyte Sab-a Peatland Forest Restoration Initiative, and Visayas State University.
A10 Monday, September 2, 2019 • Editor: Angel R. Calso
Opinion BusinessMirror
www.businessmirror.com.ph
editorial
Has Beijing gone crazy?
A
T midnight on July 1, 1997, the British Empire officially came to an end. The United Kingdom concluded its administration of its colony of Hong Kong and returned control of the territory to China. This event ended 156 years of British colonial rule—one of the worst examples of Western colonialism in history. The Treaty of Nanking—a result of the British winning the “Opium Trade War”—gave Hong Kong Island to the UK forever in 1842. The 1860 “Convention of Peking”’ ceded Kowloon Peninsula and Stonecutter’s Island and the 1898 “Convention for the Extension of Hong Kong Territory” gave a 99-year lease of the New Territories and outlying islands until 1997. The Chinese central government under Deng Xiaoping and later Jiang Zemin were in no position to take a “hardline” stance through the decade of negotiations about Hong Kong’s future. The Tiananmen Square protests of 1989 forced the government to agree that the British Government should give the people of Hong Kong the right to live in the UK. More than 100,000 lined up for a British National (Overseas) application from the night before the deadline. The “one country, two systems” was the concession that eventually allowed for the turnover and transition to take place. This is set to expire in 2047. In anticipation of mass protests this past weekend, the nominal Hong Kong protest leaders were arrested and the protests were going to be canceled. However, within hours, all were released on bail. Protestors returned to the streets in force over the weekend despite a ban. Reports are that this was one of the worse, if the not most violent of all. Police fired live rounds into the air, and in the Admiralty district some protesters threw firebombs at police officers. On one hand, Beijing is taking a tremendous risk with Hong Kong. It is a given that Hong Kong is a major trading facility and is the financial hub of Asia after Singapore. Five percent of Hong Kong’s economic activity and 7 percent of employment are directly related to tourism. The actual amount is probably three times as large. Hong Kong has its own dollar while the Chinese renminbi, which is insignificant in global trade, is not fully convertible. That is why China owns over 1 trillion US dollars worth of US government debt. On the other hand, Hong Kong has become a thorn in Beijing’s neck. It is the center and outlet for mainland Chinese money laundering. It is the entry point for western “propaganda,” and political influence and pressure. Controlling the 89 percent of “Hongkongers” who do not consider themselves “Chinese” is extremely difficult under the current system. So, where is Beijing going with all this? Read these recent headlines: “Shenzhen to use $21 million fund to attract Hong Kong and Macau graduates.” “Shenzhen to be bellwether for China’s future development: US expert.” “Shenzhen—more than Silicon Valley with Chinese characteristics.” You can get from Central—Hong Kong’s business and retail district—to Shenzhen in 15 minutes by train. Certainly, Shenzhen is not close to being ready to take over Hong Kong’s domestic and international role…yet. However, Beijing may be “crazy like a fox” with its long game plan. One way or another, and maybe sooner rather than later, Hong Kong may become an arrival point on the way to Shenzhen.
‘Rising Sun’ at SM Art Center Atty. Jose Ferdinand M. Rojas II
RISING SUN
T
ODAY (Monday) at 6 p.m., I am opening my fourth solo art exhibit called Rising Sun at the SM Art Center, fourth floor, SM Megamall. It’s a collection of my recent works organized by Galerie Anna. I’m taking this opportunity to invite you, my dear readers, to attend the opening ceremony or view the works at a later date. Please allow me to use this space to reprint an excerpt from Cid Reyes’s narrative on my Rising Sun exhibit. As the legendary American artist Frank Stella was said to have emerged an abstractionist full-blown as if
No official national heroes Atty. Lorna Patajo-Kapunan
Since 2005
BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor
T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug
Senior Editors
Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso
Online Editor
Ruben M. Cruz Jr.
Creative Director Chief Photographer Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager
Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan
BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.
www.businessmirror.com.ph
Printed by BROWN MADONNA Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF
from the brow of Zeus, the same can be said for Joy Rojas—who was formally educated as a lawyer and not as a classical painter. Since his first solo show, he has taken his bow to the artists’ community as a full-fledged abstractionist.
LEGALLY SPEAKING
E
XECUTIVE Order 292, enacted by President Corazon C. Aquino, provided for a list of regular holidays and national special days, and set National Heroes Day as a regular holiday celebrated on the last Sunday of August. This was amended by President Gloria Macapagal-Arroyo who signed into law Republic Act 9492 on July 24, 2007, which transferred the celebration to the last Monday of August, in line with her “Holiday Economics” program allowing for long weekends aimed at encouraging domestic tourism and leisure. But neither Executive Order 292 and RA 9492, nor any president has ever proclaimed any Filipino as official national hero—not even the likes of Jose Rizal or Andres Bonifacio who are commonly referred to as our National Heroes in the history books we read while we were in grace school. The debate continues, to date, on who is the “better” hero between the two. President Fidel Ramos on March 28, 1993, created the National Heroes Committee, which was tasked to recommend Filipino nationals as heroes “in recognition of their sterling character and remarkable achievement for the country,” according to the National Committee for Culture and the Arts (NCCA). It took a technical committee three years to short-list nine Filipino “heroes”: (1) Jose Rizal (2) Andres Bonifacio (3) Emilio Aguinaldo (4) Apolinario Mabini (5) Marcelo H. del Pilar (6) Sultan Dipatuan Kudarat (7) Juan Luna (8) Melchora Aquino and (9) Gabriela Silang. Members of this National Heroes Committee included historians Onofre D. Corpuz, Marcelino Foronda and Bernadette R. Churchill; authors Samuel K. Tan, Ambeth
Ocampo and Carmen Guerero-Nakpil, psychologist Alfredo Lagmay, former National Library Director Serafin D. Quiason and Prof. Minerva Gonzales. None of the nine named heroes in the short list got officially proclaimed by President Ramos or by any president. The reason allegedly was because of the apprehension that proclaiming the nine individuals as national heroes would have triggered more requests for proclamations. Another possibility, according to the NCCA, is that any proclamation could trigger bitter debates involving historical controversies. This notwithstanding, two of these heroes are celebrated on their own national holidays— Jose Rizal every December 30 and Andres Bonifacio every November 30, his birthday.
In these robust and solid works, Rojas once again transforms a surface into an encounter with the infinite varieties of sensation, tension and languorous mood, dominated by a low-key, greyed-out, monochrome palette and a lavish feast of textures. Rojas as an artist is categorized among the minimalists—it is true that his works are spare, reductive, free of clutter and distraction, rejecting the gestural brushstroke, depth and visual illusion—but they are lean without being arid, austere or anorexic. As if in recompense, Rojas gratifies the viewer with ample energy of execution, conveyed and felt by the viewer as a vitality of expression and the sheer appetite for the palette knife’s application of pigment. The artist has shared that his titles are drawn from a most unexpected source: the Dividendazo, the racing program that lists the names of the competing horses. Thus, the titles Majestic Ruler,
Jade Hunter, Silver Story, Animo, Millennial, Sun God. Rojas is, not known to most, a horse breeder, and was once the chairman of the Philippine Racing Commission. A bow, however, to his legal profession is Res Judicata—“a matter judged.” Veering away from the square and rectangular format, Rojas seizes the cruciform and converts it into a shaped vessel for spiritual exhortation. He has christened the works Ushpizin—meaning “guests” in Aramaic. It is the Jewish Feast of the Tabernacles. The word is collectively used, referring to the guests Abraham, Isaac, Jacob, Moses, Aaron, Joseph and David. For Rojas, the choice of the cruciform is an emotive advance to the symbol of Christianity. As to the exhibition title Rising Sun, the viewer may in gratitude bestow on the artist himself such a deserved honorific.
What is useful to note is that the Committee at least defined the “qualifications”/criteria to be a national hero: “1. Heroes are those who have a concept of nation and thereafter aspire and struggle for the nation’s freedom;” “2. Heroes are those who define and contribute to a system or life of freedom and order for a nation. Heroes are those who make the nation’s constitution and laws;” “3. Heroes are those who contribute to the quality of life and destiny of a nation;” “4. A hero is part of the People’s expression. But the process of a people’s internalization of a hero’s life and work takes time with the youth forming part of the internationalization.” “5. A hero thinks of the future, especially the future generations;” and “6. The choice of a hero involves not only the recounting of an episode or events in history, but of the entire process that made this particular person a hero.” (http:// en.m.wikipedia.org.wiki) Despite the fact that no Filipino national has been officially proclaimed as a National Hero, the lack of presidential proclamation nor legislation by Congress proclaiming them as such should not deter us from celebrating and honoring their bravery, nationalism and contribution to the country. I had the opportunity to watch recently a “steampunk musical,” Mabining Mandirigma, at the Cultural Center of the Philippines. Liberetto by Nicanor Tiongson, Music by Joed Balsamo, directed by Chris Millado—with Monique Wilson as
Apolinario Mabini and David Ezra as Emilio Aguinaldo. Apolinario Mabini y Maranan was a Filipino revolutionary leader, educator, lawyer and statesman who served first as legal and constitutional adviser to the Revolutionary Government, and then as the first Prime Minister of the Philippines upon the establishment of the First Philippine Republic. Mabini was born on July 23, 1864, in Manila to very poor parents—the father was a peasant farmer and his mother was a vendor at a local market. His intelligence and studiousness earned him scholarships, which enabled him to get a law degree and be admitted to the lawyer’s bar in 1895. In 1896, Mabini contracted polio, which left his legs paralyzed. Mabini is remembered among others, for his “The True Decalogue” where he speaks about love of God, country and fellowmen. Relevant then as it still is these days. Like fellow revolutionaries Jose Rizal and Andres Bonifacio, Mabini did not live to see his 40th birthday. Despite his untimely death in 1903, his works and thoughts shaped the country’s fight for independence over the next century. If we internalize Mabini’s Decalogue, as well as the teachings of all Filipino heroes who have braved death or persecution for home, nation, justice and freedom, and act accordingly, I think we can all be modern day heroes—even absent any official proclamation. This lack of specifics offers an opportunity to celebrate the bravery of not one, not a few, but all who, by their pen or by their sword, lived and died so that we may enjoy a regime of justice, peace and prosperity.
Opinion BusinessMirror
www.businessmirror.com.ph
Impact of new leases standards
We always have a choice Siegfred Bueno Mison, Esq.
THE PATRIOT
Christian P. Mendoza
DEBIT CREDIT Part One
A
LEASE is a form of agreement wherein, as defined by International Accounting Standard 17, a lessor conveys to the lessee, in return for a payment or series of payments, the right to use an asset for an agreed period of time. Under the same standard, entities are required to classify its lease transactions as either operational or finance. However, in January 2016, the International Accounting Standards Board (IASB) released the International Financial Reporting Standard (IFRS) 16: Leases, which redefined the accounting for leases. A need for a new standard was started in July 2006 when a proposed revision to IAS 17 was included as one of the agenda of IASB during that year. According to the web site of IASB, the revision was a “joint project” undertaken by both the IASB and the US Financial Accounting Standards Board (FASB) with the attempt to “develop an approach requiring lessees to recognize assets and liabilities for the rights and obligations arising under leases.” As reiterated in an article posted by the Tax and Accounting Center, the new standard focuses more on these rights transferred and obligations incurred rather than on the risks and rewards conveyed by the lease to the business. The IFRS 16 provides for guidance on determining if the contract is a lease contract or a service contract. Another major difference made by IFRS 16 is the recognition of a right-of-use asset and a corresponding liability, relating to the present value of minimum lease payments, with the following as exemptions: (1) the leased asset is of relatively small value; and (2) the lease term is 12 months or less. In further analysis of IFRS 16, the classification of leases into operational and finance was dropped, and it is notable that the definition of finance lease is the only one that subsists in the new standard (at least in the perspective of the lessees). According to an article report released by Deloitte Touche Tohmatsu Ltd., the following are key challenges that entities may face in implementing the new standard: (1) Initial analysis of all contracts in order to establish how much and what type of data will have to be processed; (2) Making new estimates depending on the nature and term of a lease; (3) Initial recognition and classification; (4) Subsequent measurement and remeasurement; (5) Identification of lease modifications; (6) Disclosures preparations; and (7) Comparative preparations. Costs in applying the new leases standard may differ between a les-
Costs in applying the new leases standard may differ between a lessee and a lessor. As stated in the joint study of Nyalle Matos of the University of Brasilia and Jorge Niyama of the University of São Paolo in 2018, the cost of implementing IFRS 16 will be lower in the perspective of the creditors and lessors compared to those for the lessees. see and a lessor. As stated in the joint study of Nyalle Matos of the University of Brasilia and Jorge Niyama of the University of São Paolo in 2018, the cost of implementing IFRS 16 will be lower in the perspective of the creditors and lessors compared to those for the lessees. In a study by the European Financial Reporting Advisory Group, the major costs to be shouldered by lessees in reference to the new standard will focus on reviewing existing contracts. This can be evident since contracts shall be viewed first if it falls under the scope of IFRS 16. Process automation of this important process can be very useful but, also, costly to entities transitioning to IFRS 16. Meanwhile, for lessors, the accounting aspect for leases did not differ greatly. As further mentioned, the concept of IFRS 16 “follows the same logic” wherein a lease whose structure follows the transfer of risks, rewards and benefits shall be considered financial lease, otherwise, operating. Only a small difference between operating and finance lease has been included in the issued IFRS 16, which makes the costs of transition lesser on the part of the lessors. Christian P. Mendoza is a Certified Public Accountant working as a Tax Advocacy Associate at Reyes Tacandong and Co. He is currently pursuing his Master Studies in Accountancy at the De La Salle University. This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat@gmail.com
O
NE of my favorite quotes from inspirational author and speaker John Maxwell goes something like this: “Life is a matter of choices, and every choice you make makes you.”
We make choices, consciously or otherwise, almost every minute every day. Some of these can be so mundane or so routine that our minds hardly process them. For instance, the choices of what to eat, what to wear, and which route to go to the office and back hardly undergo serious consideration. Some of these choices, however, can also require deliberate thought as the consequences of such choice have a lasting impact on our lives. And, no matter what the circumstances are, we always have a choice. The consequences of our choices are something we have to deal with, but only after we make a choice. In the process, the choices we make define who we are and what we stand for. Shubha Apte, an experienced business leader and an executive coach, said that people who fail to make a choice under difficult circumstances get stuck in life, whereas people who decide, one way or another, often become ultra-successful in life. She suggested that, before
I
F the trade war’s objective is to even the playing field for American firms, President Donald J. Trump isn’t going about it the right way. China’s easy access to US dollars over the past decade has fueled asset bubbles, driven an overseas debt binge and laid the groundwork for its low-cost, export-driven economy. Only cutting off the supply of cheap money will reverse this. So while Trump is pressuring Federal Reserve Chairman Jerome Powell to cut interest rates—questioning the central bank chief’s patriotism and calling him “a bigger enemy than Xi Jinping”—the way to wring equitable behavior out of China is for the Fed to hold the line. Fundamentally, money will go where it can find yield. And however much capital the world has to spare, China has shown an appetite to absorb it. During the most expansive years of quantitative easing in the US, foreign money seeking yield went into China labeled as “trade” and “investment.”
From 2009 to 2014, China may have taken in as much as $2 trillion in hot money spewing from the Federal Reserve’s low interest-rate policy. My company looked at just one measure—the over-invoicing of exports via Hong Kong—in just one year, 2013, and found $390 billion of such flows into China. Since Beijing’s capital controls, at the time, aimed to shut out foreigners eager to bet on a steadily strengthening yuan, speculators looked for bypasses: For example, some trading companies in China would inflate the value of their exports, enabling more money to
of life-changing choices lead us to more meaningful experiences, as well as consequences, which we have to live with for the rest of our lives. There was a lawyer, MDC, a top graduate of a reputable law school, who was ordered by the owner of the company to do some activities, some arguably unethical if not illegal, but with specific instructions not to disclose such work to his direct superiors including Jim, the company president. For some reason, the owner and the president of the company are not in sync in some important aspects of the business. These activities include union negotiations, termination and transfer of key personnel, and other critical matters that every president of any company had to know. MDC had every opportunity to at least report to president Jim whatever he was doing in keeping with corporate governance and office protocol. MDC chose not to, perhaps out of blind obedience or vested interest. Others saw his choice as driven by job security. After all, he justified his actions of concealing his “special mission” by saying he was simply following orders, lawful or otherwise, from the company owner. As a consequence, the integrity of MDC was put into question. Any other president would cast serious doubt as to whether MDC can still be trusted. If MDC can do it to Jim, he can also do the same to any other company president. We always have a choice. In the Bible, Galatians 5:13 tells us, “For
you have been called to live in freedom, my brothers and sisters. But don’t use your freedom to satisfy your sinful nature. Instead, use your freedom to serve one another in love.” Believers will deal with a lifelong struggle with the choice between good and evil. The choice to do good seems easier when others are good to us. The choice to do good becomes harder when others have wronged us. In many occasions, I have grappled with the dilemma of forgiving those who have wronged me or hitting back at my enemies. To forgive those who hurt us seems to be the godly path. After all, vengeance is mine says the Lord. However, a retaliation, when premised on love and done not to redress a wrong to oneself, but to set an example to protect others in the future, seems to be a godly path, as well. How we exercise our freedom to choose demonstrates the values we represent. No matter how seemingly insignificant the choice can be, the breakfast we eat (bacon or muesli) or the clothes we wear (jeans or slacks), or how gut-wrenching the decision can be, joining a coup or backstabbing your superior, the fact remains that we all have to live with the consequences. Author Roy Bennett said: “It is your choices and decisions that determine your destiny.” While we are free to choose our actions, we are never free to face the consequences. Choose wisely. For questions and comments, please e-mail me at sbmison@gmail.com.
Asia should fix its megacities, not move them
A
By Adam Minter | Bloomberg Opinion
and housing developments sprouted up across Jakarta and the surrounding region. Meanwhile, Indonesians, keen for opportunity, flocked to the city. Between 1970 and 2000, the population of the greater Jakarta region—which now encompasses 12 municipalities or regencies—grew from roughly 5 million people to over 20 million. And from 2000 to 2010, it added another 7 million people, making it the world’s fastest-growing urban region outside of China. By 2030, greater Jakarta will be home to 35 million people, topping Tokyo for the title of world’s most populous city. The results are well known. Jakarta is home to some of the world’s worst traffic jams; drivers are accustomed to spending two hours to move three miles. That traffic accounts for 75 percent of Jakarta’s air pollution, which also happens to be among the world’s worst. Jakarta’s metro only opened this year and isn’t expected to make a noticeable impact
for years, if ever. Meanwhile, 60 percent of Jakarta’s residents rely upon often illegally pumped groundwater, in part because of how polluted other sources are. That’s caused the land to subside: Since the 1970s, parts of Jakarta have sunk as much as 13 feet, at a rate of almost 10 inches per year. Today, roughly 40 percent of the city is below sea level and floods are a regular occurrence. There’s little reason to think that relocating 1.5 million bureaucrats and their families—as the current plan contemplates—will relieve these problems for the tens of millions of people left behind in Jakarta. Indeed, the experience of other Asian countries suggests it will merely divert attention and resources. Malaysia’s decision to relocate its capital from Kuala Lumpur to Putrajaya in the 1990s was partly intended to reduce traffic and pollution in the older city. Yet, 20 years on, both have gotten worse. Like Malaysia and other countries, Indonesia has favored top-down technocratic solutions to Jakarta’s problems, including building seawalls, clearing low-income communities from flood plains and now establishing a new capital. Indeed, the government recently announced that it plans to spend $40 billion on needed infrastructure improvements to Jakarta, in
addition to the money promised to its new capital city. Yet, the real issue remains failures of governance in an era of fast urbanization. If the government can’t effectively regulate real-estate developers and land use, it certainly can’t stop the city from sinking thanks to illegal groundwater pumping. In this, Indonesia is hardly alone. In China, more than 50 cities, including Shanghai, are struggling to control land subsidence due to overuse of groundwater and uncontrolled development. Fast-growing Dhaka, Manila and Bangkok are facing similar struggles. And it seems every up-andcoming Asian city confronts a crippling traffic and pollution problem as rising incomes increase the number of cars on the road. To address these issues properly, Asia’s governments need to be more responsive to voices beyond the vested interests that have been so crucial to building the region’s economy. For example, in recent years slum communities along Jakarta’s Ciliwung River have engaged in large-scale mapping of their environmental vulnerabilities, as well as local polluters. That should help efforts to clean up the river and ultimately reduce the use of groundwater. Effective, responsive governments— not new cities—are what the denizens of Asia’s megacities really need.
hype for the IPOs of Alibaba Group Holding Ltd., JD.com Inc. and Vipshop Holdings Ltd. Bonds: Investors hungry for yield have lapped up bonds issued by China’s riskiest companies. That’s enabled firms, such as junk-rated China Evergrande Group, one of the country’s most indebted developers, to continue tapping US markets. Chinese firms have raised more than 90 percent of the high-yield Asian dollar debt issued this year. Mainland developers have about $110 billion in offshore junkrated debt outstanding. Dumping: A steady flow of dollars into China fueled an investment splurge that supported the manufacturing of ultra-cheap exports, from DVD players and TV sets to solar panels. China’s history of leniency toward borrowers—its first onshore default was in 2014—meant firms were able to sell their goods at cut-rate prices without worrying about how they’d pay back their loans.
All this means that the best way to curb Chinese excess is to limit the availability of the dollar. Trump’s demand that Powell cut rates by one percentage point is counterproductive to what appears, anyway, to be the goal of the trade war. There are other, more targeted measures that the US can pursue in tandem. These include: Halting new Chinese IPOs in the US. American regulators have already ramped up scrutiny over such listings, which have tumbled to $2.8 billion so far this year compared with $29.1 billion in 2014. The US needs to close the door to all share sales until China agrees to enable investigation and prosecution of fraud by listed companies. Requiring that American auditors and stock regulators have access to the audit papers of Chinese companies that are part of US-listed entities, under penalty of delisting. The Public Company Accounting Oversight Board, a Washington-based nonprofit
that scrutinizes audits, also should be permitted to review its members in China, a goal the Securities and Exchange Commission highlighted in recent commentary. Taxing incoming Chinese (and other foreign) investment. US Senators Tammy Baldwin and Josh Hawley in late July submitted a bill that would allow the Fed to impose a flexible tax on capital inflows. This measure would make it less attractive to park money in US assets, thereby shrinking the capital account imbalance, and by extension, the trade deficit. Depending on whether Trump gets his rate cut, China’s slowdown will be fast or slow. By enabling new stimulus, cheap dollars would give the Chinese more rope to hang themselves with. Holding the line will mean Chinese austerity and unemployment. In that case, there would be no way out of economic recession other than an ambitious program of economic reform.
SIA’S biggest cities, from Shanghai to Dhaka, are struggling to manage the impact of decades of growth. Some are sinking. Most are traffic-choked. And almost all struggle with chronic air pollution. Worst of all, coastal cities face the threat of being inundated by rising seas. Indonesia’s capital Jakarta suffers these urban ills more acutely than most, which is why President Joko Widodo announced a plan last week to shift the government 900 miles away, to a relatively undeveloped section of Borneo. Indonesia isn’t the first Asian country to move its official capital and won’t be the last. But evacuating government officials and their families won’t solve the problems of Jakarta, Bangkok, Dhaka or any other megacity. Given how many people will continue to live in those urban conurbations, the focus has to remain on fixing what ails them. The challenges faced by Jakarta and other developing Asian cities were seeded in the 1970s as countries across the region liberalized their economies. In Indonesia, land-use controls were aggressively deregulated in the 1980s while entire sectors of the economy were opened up to direct investment. Economically, the results were spectacular: Factories, shopping malls
How Trump can win the trade war By Anne Stevenson-Yang | Bloomberg Opinion
choosing, people should be mindful of their respective priorities and the future impact of the outcome of such choice and to never make decisions at a highly emotional state. In my case, I try as best I can to abide by the tenets of Duty Honor Country as inculcated in every graduate of West Point. In every critical decision I made, I hardly considered what people think. For me, it has been deciding with an eternal perspective in mind. Almost 30 years ago, I was asked to join the December 1989 coup against the Cory Aquino administration. I was a 2nd lieutenant commanding an infantry company based in Bataan. A large majority of the officer corps in our battalion joined the uprising. I did not. Those who joined the coup were imprisoned and their Army careers were adversely affected. After spending more than the obligatory years of service in the Army, I chose to leave and joined the legal profession. Most of my Academy classmates who stayed on are now generals in the uniformed service. These kinds
Monday, September 2, 2019 A11
enter the country as “export receipts.” Exaggerated foreign direct investment was also a popular channel for incoming speculative money, as was debt. China’s economic story begins and ends with liquidity; with so many dead assets that have to be refinanced every year, the country requires an evergrowing supply of capital. Much more than cheap labor, this cheap capital is what has created bargain-basement export goods. It also fosters anti-competitive behavior. Domestic companies can operate at a much lower cost than their US counterparts, and they are rewarded in capital markets, despite growing evidence of intellectualproperty theft. Consider what a decade of near-zero interest-rate policy has done for China: IPOs: Chinese companies listed in the US now have a value of about $890 billion. Not even the high-profile delistings and fraud charges against China MediaExpress Holdings Inc. and Sino-Forest Corp. could drain the
2nd Front Page BusinessMirror
A12 Monday, September 2, 2019
www.businessmirror.com.ph
Faeldon told: Heed Senate GCTA subpoena
S
By Butch Fernandez @butchfBM & Samuel P. Medenilla @sam_medenilla
ENATORS at the weekend signified their readiness to order the detention of prison officials who snub, despite summons to appear, Monday’s inquiry into alleged anomalies in the treatment of high-profile inmates.
The inquiry particularly focuses on the implementation of the law expanding good conduct time allowance amid reports this may have been abused to favor moneyed or powerful inmates by manipulating their GCTA credits, and applying the law as well even to those convicted of heinous crimes like former Calauan Mayor Antonio Sanchez. Informed that Bureau of Corrections (BuCor) Chief Nicanor Faeldon earlier indicated he is not likely to attend, Senate Minority
Leader Frank Drilon warned possible detention awaits Faeldon if he ignores the Senate inquiry and fails to justify his no show. “Mayroon siyang subpoena kaya dapat magpaliwanag si Faeldon kung bakit hindi siya dapat i-detain sa Senado [He has a subpoena and he should, therefore, explain why he should not be detained at the Senate],” said Drilon. He added: “For me, we should ask him to explain. If he has no justifiable reason, he should be detained until he responds to the
senators’ questions. Faeldon, as then Customs commissioner, was detained for several weeks by the Senate Blue Ribbon committee for contempt in the inquiry into drug smuggling at the ports. At the weekend, Drilon asserted that Faeldon is a key resource person whose testimony is vital to helping senators in probing irregularities in the expanded GCTA amid reports that even high-profile prisoners convicted to serve life sentences were made to benefit
from the law, which was meant to decongest the country’s congested prisons. Drilon cited a Department Justice Order in 2015 which vests in the Secretary of Justice the power to approve the release of prisoners serving life sentences. “There is a big reason for the DOJ department order in 2015 which says that under RA 10575 or the Bureau of Corrections Act of 2013, it is only the SOJ who approves the release of prisoners See “Faeldon,” A2
DOTr still eyes end-2019 award for ₧102-B Naia redevelopment By Lorenz S. Marasigan
D
@lorenzmarasigan
ESPITE the changes in the proposed concession agreement, the chief of the Department of Transportation (DOTr) still expects to finish within the year the awarding process for the P102-billion Ninoy Aquino International Airport (Naia) redevelopment unsolicited proposal. Transportation Secretary Arthur P. Tugade said his group is gunning to award the deal toward year-end, pending approval from the National Economic and Development Authority (Neda). “In our view, the proposal was
okay, so we submitted it to Neda. As to how fast they’ll be able to review it, I cannot dictate that. But I want to finish it within the year, or award it up to the first quarter of 2020, as long as they are compliant,” he said in a recent interview. Naia Consortium, the original proponent for the unsolicited offer, recently resubmitted its proposal to the transport department to reflect the changes that Tugade ordered. The new proposal is now patterned after the operations and maintenance deal for the Clark International Airport. Tugade noted that there will be a Neda Investment Coordination Committee (ICC) meeting this month,
where the proposal will be taken up. He hopes that once the proposal receives Neda ICC approval, the Neda Board will also give its endorsement shortly after. “It’s doable. My target is as soon as possible,” he said. Naia Consortium—a group composed of Aboitiz InfraCapital Inc., AC Infrastructure Holdings Corp., Alliance Global Group Inc., Asia’s Emerging Dragon Corp., Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp.—promised to increase Naia’s capacity to 47 million during its first year of operations and to 65 million by its second year, more than double its rated capacity.
HAPPY BIRTHDAY, ‘AMBA’ The family and friends of the late Ambassador Antonio L. Cabangon Chua, founder of the ALC Group of Cos., marked the 85th anniversary of his birth on August 30, 2019, in a simple gathering at the showroom of Isuzu Gencars in Makati City. Photographed during the gathering is Sen. Sonny Angara, a good friend of the Cabangon family, shaking hands with Mrs. Bienvenida A. Cabangon, widow of Ambassador Cabangon Chua, as sons D. Edgard A. Cabangon (2nd from left) and J. Wilfredo A. Cabangon (rightmost) look on. DINDO CAPILI TROPICAL DEPRESSION “KABAYAN” 335 KM WEST NORTHWEST OF APARRI, CAGAYAN LOW PRESSURE AREA 625 KM EAST OF HINATUAN, SURIGAO DEL SUR SOUTHWEST MONSOON AFFECTING WESTERN SECTION OF LUZON as of 4:00 am - September 1, 2019
Group sees DOH sets polio vaccine P16-hike in rounds for under-5 kids water rates from SC ruling T
W
ATER rates will likely increase by P12 to P16 per cubic meter as a result of a Supreme Court decision last month that will force water companies to finish their sewerage projects within five years instead of up of 2037, according to consumer advocacy group CitizenWatch Philippines In a statement at the weekend, the group said the SC’s August 2019 decision penalized Manila Water and Sewerage System (MWSS) and its two concessionaires, Maynilad and Manila Water, almost P1 billion each for failing to finish their sewerage projects by May 2009, as required by the Clean Water Act, which took effect in 2004. The SC ruling was announced only in a press briefing but the fines must be paid within 15 days from its release. Daily fines of P322,102 until full compliance have also been imposed, further pressuring the MWSS and its concessionaires to comply and complete their projects by 2022, CitizenWatch said. CitizenWatch said the new decision is confusing because in 2011, the Supreme Court gave MWSS and its two concessionaires up to 2037 to comply since 17 government agencies which were tasked to prepare the way for MWSS and the concessionaires have not fully complied until now. For instance, it said that all the local governments in Metro Manila must provide land and right of way for the sewerage treatment plants, issue permits and identify all households and establishments that are not compliant with the law. Maynilad has a budget of almost P400 billion and Manila Water almost P200 See “Water rates,” A2
O ensure that the Philippines remains polio-free, the Department of Health (DOH) has intensified its campaign to increase polio immunization coverage and strengthen disease surveillance by conducting three rounds of synchronized polio vaccination for all children under five years old regardless of their previous vaccination status. “If we do not take appropriate actions now polio wil return We need to urgentlyact to stop its spread in our communities,” said Health Secretary Francisco T. Duque III, noting that the Philippines has been certified as poliofree since 2000. The country is currently at high risk for poliovirus transmission based on the 2018 risk analysis of the National Certification Committee for Polio. The DOH is currently intensifying environmental and disease surveillance to detect possible polio cases. To make sure that no child has missed out protection and to build community immunity against polio, the first round of the vaccine started last August 19 and ended on August 31 in Manila. Parents and caregivers are strongly urged to take their children to their local health centers for vaccination. After this first round, the vaccination campaign will expand to all cities in the National Capital Region by October and eventually to other priority regions by November 2019. The vaccination is free and will be administered by giving a child two drops of Oral poliovirus vaccine by mouth. In the effort to eliminate polio, OPV has been used in the country since 1980. Relative to this, the DOH also calls on all local government units to intensify the implementation of the Zero Open Defecation program and to strengthen the call for environmental
sanitation and personal hygiene. In addition, DOH reiterates its advisory that Manila Bay remains unsafe for swimming. As part of the regular vaccination schedule, all children under one year old should complete three doses of OPV and one dose of the inactivated polio vaccine. In 2001, three cases of acute flaccid paralysis (AFP) in Cavite, Laguna, and Misamis Oriental, and one contact became positive for vaccine-derived poliovirus (VDPV) type 1. As a response, Gloria Macapagal-Arroyo then issued Proclamation 135 to heighten the OPV vaccination and raise the polio vaccination coverage to 95 percent. Case surveillance and reporting of AFP was also strengthened. In 2018, the vaccine coverage for the third dose of OPV was 66 percent. The DOH noted that the figure is below the 95-percent target required to ensure that the whole population is protected against polio. While there has been no reported polio case in recent years, in 2019, two samples taken from a sewage in Manila tested positive for VDPV. Polio is a disabling, occasionally fatal disease caused by the poliovirus. The infection is transmitted through the fecal-oral route where environmental sanitation and personal hygiene are poor. For example, if someone touches anything contaminated with human waste that has the virus, and then touches the mouth and eats food without washing their hands properly, the virus could enter through the mouth. There is no cure for the disease and complete vaccination is the best way to prevent it. Claudeth Mocon-Ciriaco
www.businessmirror.com.ph
Companies BusinessMirror
Monday, September 2, 2019
B1
Grab wants LTFRB to review supply of TNVS units in NCR
G
By Lorenz S. Marasigan
@lorenzmarasigan
RAB Philippines will ask the Land Transportation Franchising and Regulatory Board (LTFRB) this week to review the supply of transport network vehicle service (TNVS) in Metro Manila and increase it if deemed necessary. Brian P. Cu, the company’s president, said the review will
result in a better understanding of how many operators were able
to secure their franchises from the regulator’s recently issued slots of 5,000. “We want to see the latest result of the 5,000 slots because they changed the process by adding the bank’s certificate of conformity. I don’t know how that turned out. If the slots have not been fully utilized, then they should open new slots for the people who weren’t able to apply,” he said in a recent interview. The regulatory body opened 5,000 slots in August for TNVS operators, after its meeting with transport network companies,
such as Grab, Owto, Hype, and others. Since 2018, the regulator had opened a total of 40,000 franchise slots for TNVS: 10,000 in August 2018, 20,000 in December 2018, and 10,000 in June this year. Currently, Grab Philippines has a supply of roughly 43,000 vehicles. The common supply cap instituted for Metro Manila is 65,000 vehicles. And while the regulator has approved of the use of hatchback vehicles for TNVS, Cu said his group still views the current supply as insufficient to meet the demand for ride-hailing services.
Grab alone receives as many as 800,000 booking requests per day, as of June. “What will really help is for them to allow older vehicles of up to five years. This will not add up to the current volume of cars on the road,” he explained. The current policy only allows
vehicles with an age of three years or younger to apply for TNVS franchises. “The solution is not to extend working hours or driving hours, the solution is to make the regulations and the system better, where the supply base is extendable,” Cu said.
Coping in an era of disruption focus at Asian telecoms meet
W
ITH the continued disruption of the local and global markets, telco giants in Asia are expected to forge stronger partnerships and create deeper collaborations to sustain their relevance in the lives of their customers. Due to the rise of new technologies that have disrupted the whole world and created a spectrum of new services that have made the lives of people relatively easier, the telco business has become largely uncertain and is at risk of becoming irrelevant. But this, according to PLDT Inc. Head for International and Carrier Business Kat Luna-Abelarde, only proves the need for the strengthen-
ing of existing partnerships and the striking of new ones. “With dynamism comes a lot of uncertainty. Then we realized that if the telcos wouldn’t come and partner at deeper levels, at some point we’ll just be irrelevant. We were very functional in terms of business model; the customer just had to come in, but that has changed. This is a real humbling realization that we no longer own the customer and that our market is not just limited to telcos, and competition is not just among ourselves,” she told the BusinessMirror in a recent interview. This, according to her, will be the highlight of the 15th run of the Asian Carriers Conference (ACC), an
annual meeting of telecom operators in the region that is hosted by the Filipino telco giant. “We need to start collaborating more and not just negotiating. It should happen within and outside our organizations,” she said. Taking center stage at the conference is celebrated futurist and tech writer Nicklas Bergman, who will discuss topics, such as tech disruption, artificial intelligence, quantum computing, investments, and leadership in the digital era. Bergman, who also serves as a strategic advisor to European Commissioner Carlos Moedas and the European Innovation Council, authored books such as Surviving the
DNL one of Asean companies honored by ‘Institutional Investor’ By VG Cabuag @villygc
C
HEMICAL manufacturer D and L Industries Inc. (DNL) was one of the companies in the region honored by New Yorkbased Institutional Investor magazine in its 2019 All-Asia Executive Team survey. DNL was ranked among the top in a list of over 1,600 Asian companies nominated for outstanding corporate leadership and investor relations. The company’s President and CEO Alvin Lao was named Best CEO in the Philippines and was ranked second in the Asean region. For the Philippines category, Lao bested Universal Robina Corp.’s (URC) Irwin Lee, who came in at second, and Ayala Land Inc.’s Bernard Vincent Dy, at third. The company’s investor relations program was also recognized as the best in the country, while Investor Relations Officer Crissa Bondad
placed third in the Best Investor Relations Professional in the Philippines category. URC bagged the top spot for the said category, followed by AyalaLand. On the other hand, the company’s environmental, social and governance (ESG) initiatives were also recognized by the survey, placing the company at second in the Philippines. “We greatly appreciate this hardearned recognition and are grateful to the investing community for their continuous support. We look forward to continuing an IR program that is engaging, informative and transparent for our minority shareholders, for whom we have the utmost respect,” Lao said. This year’s survey results reflect the opinions of nearly 2,500 investment professionals at 892 financial services firms, including buy-side analysts, money managers and sell-side researchers at securities firms and financial institutions that cover Asia. Companies were ranked based on
various aspects of corporate leadership and investor relations. These include having accessible senior executives, providing timely and appropriate financial disclosure, having a well-informed and empowered IR team, responding quickly and thoroughly to investor requests, providing a transparent corporate governance and ESG/SRI (socially responsible investing) reporting, and having the ability to execute key corporate strategies. These awards earned D and L Industries a spot in the list of Asean’s Honored Companies; a ranking which only included six companies in the region. DNL was the only Philippine company to make it to the list and was ranked fourth. Institutional Investor is a leading international business-to-business publisher, focused primarily on international finance. For over 50 years, it has been a trusted source for research and rankings among top analysts and portfolio managers in the financial industry.
Livelihood fair for OFWs, ‘balikbayan’ runs from Sept. 7-8
O
VERSEAS Filipino workers (OFWs) and balikbayans or repatriates are enjoined to participate in a livelihood fair made exclusively for them at the Atrium of Duty Free Philippines Fiestamall in Parañaque City on September 7 and 8. According to DFP Chief Operating Officer Vicente Pelagio A. Angala, the event is aimed at supporting them as they plan to break into entrepreneurship by providing tax-free livelihood packages and tools. “Being our major market, we want to give back to these modern-day heroes by providing business opportunities if they want to put up
a business while working abroad or eventually decide to go home for good,” he said. Dubbed “Kabuhayan para sa’yo, Kabayan!,” the event will feature livelihood products. These include carwash package, laundry business package, rice mill, shower heaters, potato cutter, shawarma machine, deep fryer, hot-dog roller, ice-cream machine, crepe machine, candy floss maker, chicken rotisserie and e-bikes. OFWs and balikbayan may enjoy duty- and tax-exempt purchase in the amount of $2,000, exclusively for livelihood equipment, within 15 calendar days from the date of arrival. OFWs certified by the Philippine Overseas
Employment Administration, Overseas Workers Welfare Administration, Philippine Overseas Labor Officer or by the embassy/consulate of the Philippines in the country where he or she had been deployed, may choose to endorse in writing the livelihood shopping privilege to his or her immediate family members within the second degree of consanguinity or affinity. Data from the Philippine Statistics Authority show that the number of OFWs from April to September 2018 was estimated at 2.3 million. Approximately, their total remittance during the period reached P235.9 billion, up from P205.2 billion the prior year. Roderick L. Abad
Tech Storm: Strategy in Times of Technological Uncertainty, and Navigating the Tech Storm. Other speakers in the ACC include Google’s Asia Pacific Partnership Head Ishan Chatterjee, Rakuten Viber Senior Director Matan Barth,
and Deloitte Southeast Asia TMT Leader John Goeres, among others. Around 1,200 delegates from 400 companies are expected to join this year’s conference, which will tackle the theme “Stronger Partnerships for Shared Success.” It will be held in
Cebu from September 3 to 6. “In our industry, networking and really seeing each other faceto-face is critical. It’s not easy to meet with a partner who is on the other side of the world,” Luna-Abelarde added. Lorenz S. Marasigan
B2
Companies BusinessMirror
Monday, September 2, 2019
PSE STOCK QUOTATIONS
August 30, 2019
Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG FILIPINO FUND MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH VANTAGE
55 147.1 87.7 26.1 11.9 70.85 46.9 57.9 27.2 202 60.05 1.15 1.93 18.4 4.8 7.72 0.445 0.92 186.3 1.1
57 149 87.95 26.15 11.92 70.9 47.5 57.95 27.6 204 60.1 1.2 2.16 18.6 4.88 8.64 0.465 0.94 186.5 1.11
57 146.8 87.6 26.45 11.62 71.25 45.5 57.85 27 194.9 60.05 1.15 1.93 18.4 4.77 7.73 0.44 0.93 187.2 1.11
57 149.5 88.3 26.45 11.9 72.75 47.7 58 27.6 204 60.1 1.15 1.93 18.4 4.89 7.73 0.46 0.94 187.2 1.11
57 145.6 87.05 26 11.62 70.9 45.25 57.85 27 192.5 60 1.15 1.93 18.4 4.77 7.71 0.435 0.92 186.5 1.11
57 149 87.95 26.15 11.9 70.9 46.9 57.9 27.6 204 60.05 1.15 1.93 18.4 4.89 7.71 0.46 0.94 186.5 1.11
130 2499900 3410650 20700 907500 3036880 85300 33720 12300 1339130 21720 82000 1000 200 16000 10200 260000 189000 470 1000
7410 370584948 299361065.5 542080 10656090 216942315.5 3961225 1952945 334380 268810922 1304775 94300 1930 3680 76540 78705 117400 175200 87868 1110
INDUSTRIAL
140536391 -57904375 -125825 -602790 29145747 -765235 -1289433.5 151104602 -1164270.5 -26108 -
ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP SWIFT FOODS UNIV ROBINA VITARICH CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG
1.31 37.8 0.245 26.4 82.15 365 22.4 5.08 4.25 2.83 11 31.4 7.18 15.2 15.02 13.9 5.5 9.05 7.24 89.9 0.71 50 237 8.31 13.82 1.89 12.38 1.6 5.05 0.126 171.5 1.17 73.05 78.05 3.04 5.41 15.1 10.1 14.74 18.98 8.61 1.03 1.25 2.02 4.9 3.31 5.1 32.05 2.05 8.18 1.56 1.08 10.56
1.34 38 0.249 26.65 82.9 366 22.5 5.09 4.39 2.84 11.2 31.75 7.2 15.5 15.1 14.18 5.7 9.17 7.25 90 0.72 50.45 237.8 8.69 13.88 1.9 12.6 1.64 5.12 0.128 173 1.18 76.45 81 3.05 5.85 15.18 10.12 14.78 19 9.22 1.05 1.26 2.06 4.95 3.32 5.15 32.5 2.06 8.19 1.58 1.09 10.7
1.3 37.55 0.255 26.1 83 369.8 22.15 5.19 4.15 2.82 11.2 32.35 7.2 15.3 15.2 14.08 5.45 9 7.25 90.4 0.74 51 235.8 8.25 13.6 1.8 12.4 1.61 5.1 0.126 172.5 1.18 76.95 79.35 3 5.81 15 9.84 14.72 18.8 9.22 1.08 1.25 2.02 5 3.33 5.1 33.5 2.02 8.01 1.55 1.1 10.76
1.32 38 0.255 26.95 84.4 369.8 22.55 5.2 4.26 2.85 11.28 33.4 7.25 15.5 15.2 14.1 5.7 9.3 7.26 90.9 0.74 51.1 239.4 8.69 14.1 1.92 12.58 1.66 5.1 0.126 173 1.19 76.95 81 3.08 5.83 15.18 10.38 14.8 19.1 9.22 1.08 1.27 2.02 5 3.41 5.15 33.5 2.13 8.48 1.59 1.1 12.5
1.3 37.55 0.241 26.1 82.15 363.2 22.15 5.09 4.15 2.79 10.98 31.4 7.18 15.1 15 13.9 5.45 8.95 7.24 89.6 0.7 49 235 8.25 13.5 1.8 12.3 1.59 5.05 0.126 168 1.17 76.95 78.05 3 5.81 15 9.82 14.64 18.8 8.58 1.03 1.23 2.02 4.9 3.32 5.02 32.05 2 8.01 1.5 1.06 10.5
1.31 38 0.249 26.4 82.15 365 22.5 5.09 4.25 2.83 11.2 31.4 7.2 15.5 15 13.9 5.7 9.17 7.25 90 0.72 50 237.8 8.69 13.88 1.9 12.38 1.62 5.1 0.126 173 1.18 76.95 81 3.05 5.83 15.1 10.1 14.78 19 9.22 1.04 1.25 2.02 4.9 3.32 5.15 32.05 2.06 8.19 1.58 1.08 10.7
107000 3908500 920000 2775900 175230 286700 638500 1898500 545000 22925000 46300 2311100 40600 1305900 4000 1313200 1000 2228300 6554900 397230 1147000 161840 1522100 5600 71900 27150000 57500 81000 3400 560000 1587180 2238000 100 2940 11135000 9100 5928700 1580100 974500 1724600 507700 588000 4966000 22000 60000 7000 129500 48300 12349000 375000 60000 137000 1455800
140150 147915335 226400 74133215 14543799.5 104852366 14297760 9704599 2315670 64284260 516362 73756150 293815 20074558 60306 18333866 5625 20434836 47522473 35797982 813050 8093366 361308824 46904 996230 50943250 710364 130480 17290 70560 273432995 2633770 7695 231927 33843300 52971 89406508 15912984 14362578 32785114 4669265 617370 6191820 44440 295250 23360 657304 1602825 25419850 3108695 93430 148030 16634020
-1320 49681214.9997 16165595 -2218797 27226112 327190 -4251872 -3006860 -41162 -55325575 2234430 1016972 1201353 -47454311 -22895355 4479757.5 184694286 -65288 -8535820 322670 -15250 141088 -274950 -7362870 1474972 13082661 -7829048 21606360 -4600000 -298000 9960 22292 -482775 -722930 -625704 114558
ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG
0.91 14.5 925 53.9 12.7 3.54 7 0.8 1.28 1.29 6.85 9.02 13.5 0.247 908 70.65 5.31 5 0.49 4.56 14.74 0.64 4.94 0.039 1.38 1.28 396 1025 177.2 0.85 2.41 236 0.23 0.25
0.92 14.66 930 53.95 12.8 3.55 7.05 0.81 1.29 1.31 6.94 9.05 13.7 0.26 909.5 71.95 6.19 5.84 0.5 4.64 14.78 0.65 4.95 0.04 1.39 1.31 459 1026 180 0.86 2.74 246.8 0.236 0.26
0.87 14.1 944.5 52 12.98 3.43 7 0.89 1.31 1.37 6.85 9.1 13.5 0.241 891 70.65 5.3 5 0.53 4.6 14.2 0.67 4.89 0.04 1.4 1.3 415 1027 175 0.9 2.41 241 0.237 0.265
0.93 14.78 944.5 53.9 13.16 3.57 7.02 0.9 1.33 1.37 6.95 9.21 13.72 0.295 914 71.95 6.48 5.2 0.56 4.64 14.88 0.67 5 0.04 1.49 1.32 459.8 1037 180 0.9 2.41 246.8 0.255 0.265
0.82 13.62 925 52 12.6 3.43 7 0.79 1.27 1.31 6.8 8.98 13.5 0.241 890 70.2 5.3 5 0.49 4.52 14.2 0.63 4.87 0.039 1.38 1.28 415 1007 172.5 0.85 2.41 236 0.229 0.25
0.91 14.6 925 53.9 12.7 3.55 7 0.8 1.28 1.31 6.94 9.05 13.7 0.26 908 71.95 6.48 5 0.5 4.64 14.78 0.66 4.95 0.039 1.39 1.28 459.8 1026 180 0.85 2.41 246.8 0.236 0.25
65545000 68600 269120 3207590 11598500 1732000 624400 11986000 3239000 264000 1325900 9591900 41100 8580000 210620 3128970 1100 3600 250000 1213000 3515500 607000 44553000 16900000 2024000 349000 150 541565 685790 1100000 1000 840 5390000 2610000
58244230 981378 250285000 170320627.5 147823060 6124010 4370802 9919730 4188340 352910 9134072 86834110 556546 2318790 191159510 222450189.5 6045 18200 132150 5558960 51316714 391020 219421010 661000 2901600 451890 62698 555273930 122077953 946180 2410 199022 1297810 669200
3088930 -95213060 -35795714 -12005984 27520 811300 38140 66000 -3116880 -595734 -79694 -92349.9997 60434400 86198659 -3147990 -2504136 25859190 -3270 25800 -84763155 12299801 86000 -40260 16240 -
HOLDING & FRIMS
PROPERTY
ARTHALAND CORP 0.87 0.88 0.88 0.88 0.86 0.88 2458000 2156020 -2640 AYALA LAND 47.3 47.5 48.05 48.2 47.3 47.3 25166000 1198873190 -108206255 ARANETA PROP 1.86 1.9 1.9 1.9 1.9 1.9 222000 421800 BELLE CORP 2.18 2.19 2.18 2.19 2.18 2.18 205000 448800 -32740 A BROWN 0.79 0.8 0.78 0.8 0.78 0.8 863000 684690 CITYLAND DEVT 0.84 0.85 0.84 0.86 0.84 0.85 34000 28780 CROWN EQUITIES 0.238 0.24 0.235 0.24 0.234 0.238 3820000 908330 83300 CEB LANDMASTERS 4.69 4.72 4.7 4.72 4.68 4.72 575000 2699660 864750 CENTURY PROP 0.56 0.57 0.57 0.58 0.56 0.57 17813000 10187040 -195709.9999 CYBER BAY 0.4 0.42 0.4 0.4 0.4 0.4 50000 20000 DOUBLEDRAGON 21.65 21.75 21.75 22.2 21.6 21.65 1121800 24511915 -334805 DM WENCESLAO 9.44 9.46 9.4 9.6 9.36 9.46 102700 977007 77365 EMPIRE EAST 0.455 0.46 0.465 0.465 0.455 0.455 1560000 714200 -704900 FILINVEST LAND 1.62 1.63 1.61 1.67 1.61 1.62 40848000 67133780 -209610 GLOBAL ESTATE 1.26 1.27 1.23 1.29 1.23 1.26 854000 1070230 -588590 8990 HLDG 15.32 15.34 15.32 15.34 15.32 15.32 206800 3169192 -904280 PHIL INFRADEV 1.41 1.42 1.43 1.48 1.39 1.41 4798000 6889630 -25500 CITY AND LAND 0.74 0.76 0.75 0.75 0.74 0.74 32000 23740 MEGAWORLD 5.13 5.14 5.05 5.2 5.05 5.13 76562600 394371589 103099548 MRC ALLIED 0.32 0.325 0.315 0.325 0.31 0.325 7540000 2406050 102400 PHIL ESTATES 0.465 0.47 0.47 0.47 0.46 0.47 780000 360900 PRIMEX CORP 2.1 2.14 2.04 2.2 2 2.1 2196000 4639620 10660 ROBINSONS LAND 25 25.25 25 25.9 25 25 4199500 106082950 -25102780 PHIL REALTY 0.39 0.4 0.385 0.4 0.385 0.4 140000 55400 ROCKWELL 2.32 2.35 2.36 2.36 2.35 2.35 77000 181490 SHANG PROP 3.21 3.3 3.3 3.35 3.3 3.3 188000 620450 STA LUCIA LAND 2.39 2.4 2.44 2.44 2.29 2.4 2112000 4941570 139900 SM PRIME HLDG 35.3 35.45 35 35.8 35 35.3 19065400 675298710 -223803780 STARMALLS 5.65 5.8 5.75 5.8 5.65 5.8 76200 434470 SUNTRUST HOME 0.89 0.93 0.94 0.94 0.87 0.89 881000 789420 VISTA LAND 7.57 7.7 7.42 7.7 7.37 7.7 11606400 88147933 17019256 SERVICES ABS CBN 20.2 20.25 19.8 21 19.8 20.2 774000 15774434 GMA NETWORK 5.36 5.37 5.38 5.38 5.36 5.37 115900 622562 MANILA BULLETIN 0.475 0.48 0.475 0.475 0.475 0.475 90000 42750 GLOBE TELECOM 1996 2030 1901 2030 1901 2030 97255 192794490 65328960 PLDT 1170 1179 1124 1179 1121 1179 190395 220626910 67325965 APOLLO GLOBAL 0.046 0.047 0.045 0.047 0.045 0.047 300000 13800 IMPERIAL 1.86 2.05 2.07 2.07 2.07 2.07 4000 8280 ISLAND INFO 0.111 0.112 0.115 0.115 0.11 0.112 15940000 1796610 71490 ISM COMM 5.15 5.16 4.92 5.18 4.87 5.15 3233000 16369150 -32040 JACKSTONES 2.92 3.07 2.96 3.07 2.96 3.07 9000 26750 NOW CORP 3.22 3.23 3.45 3.55 3.21 3.23 9950000 33009210 497700 TRANSPACIFIC BR 0.365 0.37 0.38 0.38 0.36 0.37 6120000 2234500 PHILWEB 3.12 3.13 3.08 3.2 3.08 3.13 483000 1507890 -123440 2GO GROUP 10.2 10.72 10.04 11.2 10.04 10.2 87400 936372 7140.0001 ASIAN TERMINALS 18.6 19.84 18.4 19.84 18.4 19.84 300 5664 CHELSEA 7.06 7.07 7.06 7.12 6.9 7.06 707200 4961154 CEBU AIR 98 98.05 96.8 98.9 96.8 98 866730 84837445 42150836.5 INTL CONTAINER 133.3 135.8 132.7 135.8 132.1 135.8 1854410 249,784,7041 27636672.9998 LORENZO SHIPPNG 0.94 0.96 0.96 0.96 0.94 0.94 381000 359420 MACROASIA 18.68 19 18.3 19.1 18.3 19 353400 6667490 3050782 METROALLIANCE A 1.17 1.35 1.16 1.16 1.14 1.16 92000 105500 PAL HLDG 8.08 8.5 8.05 8.08 8 8.08 99900 804550 HARBOR STAR 1.82 1.83 1.68 2.17 1.68 1.82 60764000 119656070 146090 ACESITE HOTEL 1.52 1.56 1.55 1.56 1.53 1.56 37000 57290 BOULEVARD HLDG 0.058 0.059 0.057 0.06 0.057 0.059 9630000 564030 WATERFRONT 0.69 0.71 0.7 0.74 0.69 0.69 7482000 5358140 36000 IPEOPLE 9.22 9.65 9.23 9.65 9.22 9.65 118700 1095613 STI HLDG 0.69 0.71 0.7 0.7 0.69 0.7 380000 265650 BERJAYA 2.33 2.34 2.38 2.4 2.33 2.33 119000 281970 BLOOMBERRY 10.34 10.36 10.04 10.58 10.04 10.34 6036300 62418454 8505108 PACIFIC ONLINE 2.63 2.68 2.73 2.73 2.63 2.68 38000 101190 2680 LEISURE AND RES 3.14 3.15 3.14 3.19 3.13 3.15 120000 378040 -94500 MANILA JOCKEY 3.12 3.2 3.09 3.2 3.09 3.2 39000 122530 PH RESORTS GRP 4.65 5 4.31 5 4.31 5 13300 60010 PREMIUM LEISURE 0.7 0.71 0.68 0.71 0.68 0.7 2508000 1748340 TRAVELLERS 5.46 5.47 5.45 5.46 5.45 5.46 2144300 11692756 -2370660 METRO RETAIL 2.45 2.46 2.37 2.47 2.37 2.45 1028000 2485500 -61600 PUREGOLD 43.85 43.9 43.8 44.35 43.8 43.9 1697600 74589385 19521715 ROBINSONS RTL 77.5 78 78.5 78.5 76.7 78 1543300 119898985 -33414092.5 PHIL SEVEN CORP 136 144 144 144 144 144 80 11520 SSI GROUP 2.78 2.79 2.75 2.79 2.66 2.79 4770000 13160990 618800 WILCON DEPOT 16.86 16.9 16.88 17.1 16.8 16.9 2567700 43596108 13380900 APC GROUP 0.57 0.58 0.59 0.59 0.57 0.58 2013000 1176450 EASYCALL 10.02 10.2 10.42 10.42 9.78 10.2 381300 3792938 4714 GOLDEN BRIA 419 435 419 435 419 435 2430 1055632 PAXYS 2.77 3.02 3.02 3.02 3.02 3.02 1000 3020 3020 PRMIERE HORIZON 0.58 0.59 0.61 0.63 0.57 0.58 80015000 47356210 -665130 SBS PHIL CORP 9.11 9.38 9.39 9.39 9.11 9.11 9000 82860 MINING & OIL ATOK 12 12.22 11.14 12.38 11.14 12.22 4400 52432 -240 APEX MINING 1.24 1.25 1.32 1.32 1.23 1.24 8580000 10768500 81070 ABRA MINING 0.0017 0.0018 0.0018 0.0018 0.0017 0.0018 334000000 569500 ATLAS MINING 2.54 2.62 2.56 2.56 2.53 2.53 203000 514950 COAL ASIA HLDG 0.27 0.28 0.28 0.28 0.28 0.28 20000 5600 CENTURY PEAK 2.7 2.71 2.72 2.72 2.67 2.71 561000 1508360 48600 DIZON MINES 7.85 7.86 7.85 7.86 7.75 7.85 3000 23443 FERRONICKEL 1.47 1.48 1.45 1.5 1.44 1.47 2462000 3628590 832030 GEOGRACE 0.218 0.222 0.231 0.234 0.216 0.218 12800000 2853560 110430 LEPANTO A 0.108 0.11 0.11 0.111 0.108 0.108 8160000 887580 LEPANTO B 0.115 0.119 0.115 0.12 0.115 0.12 40000 4650 MANILA MINING A 0.0095 0.0096 0.0095 0.0095 0.0095 0.0095 17000000 161500 MARCVENTURES 1.1 1.11 1.04 1.1 1.04 1.1 1743000 1905140 -33000 NIHAO 1 1.04 1.05 1.05 1.01 1.01 28000 28460 NICKEL ASIA 2.73 2.74 2.64 2.75 2.62 2.74 10488000 28269000 -307260 ORNTL PENINSULA 0.84 0.85 0.83 0.85 0.82 0.84 480000 399310 68880 PX MINING 3.81 3.82 3.89 3.9 3.79 3.82 1550000 5953450 -1347430 SEMIRARA MINING 23 23.2 23.1 23.2 22.95 23.2 1707300 39346240 -17137650 UNITED PARAGON 0.0065 0.0069 0.0065 0.0069 0.0064 0.0065 26000000 169100 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.011 34800000 394700 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 10000000 120000 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.011 2100000 23600 PHINMA PETRO 7.56 7.68 8 8 7.45 7.56 1687300 12763885 150000 PXP ENERGY 11.6 11.64 12.3 12.3 11.2 11.6 8757100 102836540 11591986 PREFFERED AC PREF B1 498 501 498 502 498 502 1070 532980 AC PREF B2 500 504 504 504 504 504 10 5040 -5040 DD PREF 100.8 101.4 101 101.5 100.5 101 25200 2540775 10100 SMC FB PREF 2 990 1006 990 990 990 990 10 9900 GLO PREF P 495 500 500 500 500 500 2560 1280000 GTCAP PREF B 970 980 980 980 980 980 5000 4900000 PNX PREF 3B 109 109.9 109 109 109 109 490 53410 53410 PCOR PREF 3A 1035 1040 1035 1035 1032 1035 1100 1138200 PCOR PREF 3B 1032 1033 1035 1035 1033 1033 1285 1327935 SFI PREF 1.4 1.59 1.72 1.72 1.4 1.4 14000 22910 SMC PREF 2B 75.6 76.6 76.1 76.1 75.3 75.3 360 27214.5 SMC PREF 2C 78.05 78.95 78.5 78.5 78.5 78.5 430 33755 SMC PREF 2D 75.45 75.6 75.3 75.45 75.3 75.45 1000500 75487650 SMC PREF 2F 76.3 76.95 76.05 76.95 76.05 76.3 30880 2363335 SMC PREF 2G 76.8 77 76.8 77 76.8 77 1000 76900 SMC PREF 2H 75.55 77 76.95 76.95 75.55 75.55 1500 114725 -
PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR
18.36
18.9
18.5
19.1
18.36
18.36
788600
14802798
WARRANTS LR WARRANT
1.57
-3179852
1.6
1.6
1.6
1.6
1.6
28000
44800
-
ITALPINAS 7.54 KEPWEALTH 10.92 XURPAS 0.98
7.64 10.94 0.99
7.64 12.82 0.94
7.89 13.04 1.04
7.4 10.58 0.94
7.64 10.92 0.98
922100 3899100 17562000
7002066 45226246 17520840
438902 -346458 -110630
FIRST METRO ETF
119.6
SMALL & MEDIUM ENTERPRISES
EXHANGE TRADE FUNDS 118.9
118.5
119.6
118.5
119.6
4420
525804
-
www.businessmirror.com.ph
AirAsia’s new chairman Castillo seen to sustain growth track
B
By Lorenz S. Marasigan
@lorenzmarasigan
UDGET carrier AirAsia Philippines is now led by a new chairman in the form of lawyer Joseph Omar A. Castillo, who is expected to sustain the airline’s profitability amid stiff competition in the local market. He replaced longtime Chairman Marianne B. Hontiveros, who, according to AirAsia Group Executive Chairman Datuk Ka-
mar udin Meranun, “prov ided the foundation for what AirAsia Philippines is now, securing permits and certificates to operate,
to growing an initial team of 200 Filipino Allstars to more than 2,000.” “Castillo brings a wealth of experience and strategic vision to the airline business, and we are confident that the company will continue to thrive under his leadership,” Meranun added. Under Castillo’s belt are his experiences in working in various fields, including transportation, business-process outsourcing, infrastructure, labor relations, contract support, immigration and other corporate matters. He is expected to sustain the growth path that AirAsia Philip-
pines is now enjoying after years of being in the red. In the second quarter of 2019, Philippines AirAsia Inc. saw its profits ballooning by eightfold to P593 million, from P68 million, as its revenues rose by 38 percent to P7.51 billion, from P5.46 billion. It carried 2.23 million passengers during the said period, or an 18-percent increase versus the previous year, and clocking in a 91-percent load factor. Currently, AirAsia Philippines operates a fleet of 24 aircraft on more than 500 weekly domestic and international flights from its hubs in Manila, Clark, Cebu and Kalibo.
Trump’s new China tariffs to hurt Apple products
T
HE trade war between the US and China will hit Apple Inc. this weekend, dragging the largest US technology company into a fracas that threatens to raise prices on popular consumer gadgets and undermine a giant but delicate global supply chain. President Donald J. Trump’s 15% China tariffs were entered into the Federal Register on Friday, making the move official. At 12.01 a.m. local time on Sunday in Washington, the levies will kick in for hundreds of products entering the US or being withdrawn from warehouses for consumption in the US, according to the order. One veteran analyst was holding out hope
for a last-minute reprieve. “The US adding tariffs to any Apple product without some type of corresponding offset to mitigate the negative effects crosses the Rubicon on many dimensions,” Gene Munster of Loup Ventures, wrote in a note on Friday. “We believe the US does not want to be the first to add tariffs to Apple, given Apple is arguably the leading US company and the face of American business in China. The optics of a US protectionist first approach penalizing a US global leading company while China doesn’t penalize Apple would seem to surrender the moral high ground.”
STOCK-MARKET OUTLOOK LAST WEEK
SHARE prices rebounded for the second consecutive week, with the main index returning to the 7,900-point level as local investors picked up the slack in foreign buying. The benchmark Philippine Stock Exchange index (PSEi) gained 90.25 points to close at 7,979.66 points during the four-day trading week. “The PSEi ends the month of August down 0.8 percent which is quite impressive as it was down almost 5 percent in the middle of the month. This month’s performance ends a five-month streak of ending with gains,” Christopher Mangun, research head at AAA Securities Inc., said. Volume of trade was up at 11.76 billion shares valued at P35.58 billion, or an average of P8.8 billion for the week. Foreign investors, however, continue to dump local shares and were net sellers at P2.1 billion. “The increase in volumes can be attributed to the rebalancing of the MSCI index wherein investors reposition themselves in this market. Foreign funds continue to flow out, which might also be due to the rebalancing,” Mangun said. With the exception of the Property index that gave up 18.69 points to close at 3,998 points, all other subindices closed higher. The broader All Shares index gained 39.10 to close at 4,909.48, the Financials index was up 6.16 to 1,833.28, the Industrial index rose 129.30 to 11,126.30, the Holding Firms index climbed 150.32 to 7,922.86, the Services index added 33.86 to 1,623.75, and the Mining and Oil index surged 176.52 to 8,250.52. For the week, gainers edged losers 131 to 78, and 38 shares were unchanged. Top gainers were still second-liner stocks led by Now Corp., Easycall Communications Philippines Inc., Premiere Horizon Alliance Corp., AbaCore Capital Holdings Inc., Anglo Philippine Holdings Corp. and Harbor Star Shipping Services Inc. Top losers, on the other hand, were Kepwealth Property Phils. Inc., Metro Alliance Holdings and Equities Corp., Pilipinas Shell Petroleum Corp., Concepcion Industrial Corp., Double Dragon Properties Corp. and Republic Glass Corp.
THIS WEEK
SHARE prices may continue the uptrend this week, the start of the so-called Ber months, as the main index is expected to return to the 8,000-point level. “Whether the index breakout of the 8,000 mark should be reliant on US market movement in the coming days, and if foreigners continue their inflow like [Friday],” Gabriel Jose F. Perez of Papa Securities Inc., said. Total foreign inflow last Friday was at P10.56 billion and they were net buyers at P409.13 million. Mangun, however, said that for the main index to return to that level, there has to be stronger local buying from the local investors to counter the heavy foreign selling. “We saw foreign net inflows on the last trading day last week; however, this may not signal the end of the trend of foreign selling as there has been a pattern of foreign buying at the end of almost every week in August,” Mangun said. “However, external headwinds remain with the volatility in world markets which could affect the sentiment for equities locally,” he said.
STOCK PICKS
BROKER Regina Capital and Development Corp. recommended to take profits on the stock of JG Summit Holdings Inc. after it broke its resistance level placed at P70 per share. “It is unlikely, however, that the stock will be able to hold its position above this level, seeing as the tapering momentum is pointing to some eventual profit-taking that may occur,” it said, adding that buying pressure is still supporting some upward bias. It sees the support level for the stock at P66.47 per share. JG Summit shares closed Friday at P71.95 apiece. Meanwhile, it advised to trade the range on the stock of Ayala Corp. after it snapped its three consecutive weeks of gain following a minimal selldown. “No glaring trends can be derived from the indicators, however, since they have maintained some short-term sluggishness despite being on selling signs. With this, it is likely that the stock will stay trapped within its consolidation range for the rest of the week,” it said. Ayala shares closed last week at P925 apiece. VG Cabuag
Any reprieve for Apple looked unlikely on Friday as Trump showed little sign of backing down and blamed US companies for their inability to deal with a trade policy he said was aimed at reining in “unfair players.” Apple didn’t respond to requests for comment. Here’s a list of Apple products that will be hit by 15-percent tariffs starting this weekend: n Apple Watch and Watch bands n AirPods n HomePod n Some Beats headphones n IMac computers n Repair parts for iPhones may also be hit
MUTUAL FUNDS
n Nand flash, a key storage component for iPhones, could also be affected The iPhone, which contributes more than half of Apple’s revenue, won’t face this 15-percent tariff until December 15. But the other hardware products made up at least 10% of sales in the company’s 2018 fiscal year, and many of these will have to absorb the 15-percent import levy that kicks in on Sunday. It’s unclear if Apple will raise product prices or assume the cost of the tariffs. The company, one of the world’s most profitable, maintains higher margins than most other consumer hardware makers. Bloomberg News
August 30, 2019
NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 258.57 -2.48% -1.47% 0.33% 2.53% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5317 2.24% 2.37% 1.62% 6.31% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.9953 -4.35% -3% -0.96% 2.36% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9592 3.63% N.A. N.A. 6.46% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8616 -1.15% N.A. N.A. 4.98% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.421 -1.38% -0.39% 0.56% 2.8% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8709 -0.58% -4.56% N.A. 4.09% MBG EQUITY INVESTMENT FUND, INC. -A 117.78 1.5% N.A. N.A. 1.39% PAMI EQUITY INDEX FUND, INC. -A 52.0306 0.54% -0.26% N.A. 5.7% PHILAM STRATEGIC GROWTH FUND, INC. -A 542.23 1.26% -1.18% 0.16% 5.34% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.311 -0.01% 0.09% 1.5% 4.55% PHILEQUITY FUND, INC. -A 38.5342 0.28% 0.83% 1.5% 5.19% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0327 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2827 1.38% 0.68% 2.14% 6.53% PHILIPPINE STOCK INDEX FUND CORP. -A 881.84 1.41% 0.38% 2.08% 6.45% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9102 2.29% -0.66% N.A. 5.84% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3002 0.66% 0.44% 1.55% 5.94% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0135 1.01% 0.33% N.A. 6.2% UNITED FUND, INC. -A 3.7116 0.69% 2.04% 2.64% 6.02% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 118.211 1.81% 1.21% 3.14% 6.74% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9246 -11.12% 1.09% -2.31% -0.48% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.265 -3.25% 6.6% N.A. 14.46% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6854 -1.31% -2.74% -2.19% 2.07% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3051 -0.26% -1.26% 0.29% 4.34% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6607 1.39% -0.01% -1.12% 4.62% GREPALIFE BALANCED FUND CORPORATION -A 1.3489 -0.93% N.A. N.A. 3.42% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9604 3.97% 0.5% 1.29% 6.36% PAMI HORIZON FUND, INC. -A 3.8157 4.36% -0.49% 0.65% 8.11% PHILAM FUND, INC. -A 17.0838 4.66% -0.45% 0.56% 7.39% SOLIDARITAS FUND, INC. -A 2.1518 1.62% 0.45% 1.68% 3.99% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8997 3.04% 0.27% 1.21% 6.8% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.026 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0137 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0104 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9966 3.01% 0.29% 0.84% 8.13% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03861 9.38% 2.15% 2.53% 9.38% PAMI ASIA BALANCED FUND, INC. -A $0.9621 -4.1% 0.93% -1.87% 5.3% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7173 0.7% 4.97% 2.46% 12.35% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1159 3.84% 3.29% N.A. 10.49% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 353.76 3.83% 2.25% 2.33% 3% ATRAM CORPORATE BOND FUND, INC. -A, 1 1.9132 2.97% 0.19% -0.01% 2.9% COCOLIFE FIXED INCOME FUND, INC. -A 3.0763 5.33% 5.37% 5.28% 3.37% EKKLESIA MUTUAL FUND INC. -A 2.224 4.75% 1.44% 2.21% 4.45% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3523 6.04% 1.54% 1.76% 6.68% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6079 1.14% -1.62% 0.25% 2.78% PHILAM BOND FUND, INC. -A 4.3358 9.65% 0.81% 2.04% 10.61% PHILEQUITY PESO BOND FUND, INC. -A 3.7386 7.59% 1.15% 1.7% 6.3% SOLDIVO BOND FUND, INC. -A 0.9554 5.85% -0.14% N.A. 7.2% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.037 9.22% 1.91% 2.72% 9.81% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6839 9.21% 1.41% 2.27% 9.35% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $463.9 4.31% 1.8% 2.77% 3.46% ALFM EURO BOND FUND, INC. -A Є220.38 3.29% 1.36% 1.57% 3.63% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.197 6.85% 2.06% 2.43% 6.33% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0259 4.44% 0.92% N.A. 4.44% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7175 0.57% -2.12% 0.43% 1.62% PAMI GLOBAL BOND FUND, INC -A $1.1066 6.6% -0.2% -1.53% 6.78% PHILAM DOLLAR BOND FUND, INC. -A $2.4256 11.21% 1.74% 3.55% 11.74% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.06005 5.68% 1.8% 2.02% 5.35% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1956 9.89% 1.13% 3.1% 11.26% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 124.51 4.1% 2.63% 2.07% 3% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0212 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2401 5.64% 2.4% 1.47% 4.92% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2524 3.92% 2.78% 2.16% 2.72% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0316 2.22% N.A. N.A. 1.55%
A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU). 1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018. 3 LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.). "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."
Banking&Finance BusinessMirror
www.businessmirror.com.ph
Monday, September 2, 2019 B3
Central bankers focus on effects of trade war
C
By Bianca Cuaresma
@BcuaresmaBM
ENTRAL bankers in the region have shifted their focus on concerns arising from the effects of on-going trade war, from their discussion of increased interdependence in the global economy last year. In a statement, the Executives’ Meeting of East Asia-Pacific (EMEAP) Central Banks—which comprises of 11 economies in the
region—voiced out their concerns about the trade war’s effect on their respective jurisdictions and in the region at large.
“ T he gover nors exchanged views on recent global economic and policy developments. They also discussed the challenges and policy responses of EMEAP central banks and monetary authorities under trade protectionism,” the EMEAP said following their 24th EMEAP Governors’ Meeting held in Shenzhen, China. Last year, the discussion of the 11 governors was centered on the increased interdependence in the global economy and the impact on the conduct of monetary policy. Last year’s meeting was held in Manila and was chaired by then-Governor Nestor A. Espenilla Jr. of the Bangko Sentral ng Pilipinas (BSP).
“Governors concurred that trade tensions are detrimental to the global economy,” the governors’ statement for this year further read. Just recently, IHS Markit from Chief Economist Nariman Behravesh also said the global economy is on “heightened danger.” “The trade war between China and the United States has taken a turn for the worse. The Trump administration has threatened to impose 10-percent tariffs on an additional $300 billion of Chinese imports, and China has retaliated by banning US agricultural imports and devaluing its currency by a small amount,” Behravesh said.
“Before the start of the trade war, slowing growth in the developed world and changes in monetary policy affected commodity prices, exports, currencies and interest rates. The trade war has intensified these trends by disrupting global supply chains [especially in Asia], pushing down commodity prices, and pummeling exports,” the economist added. The EMEAP is a cooperative organization of central banks and monetary authorities in the East Asia and Pacific region. Its primary objective is to strengthen the cooperative relationship among its members. It comprises the central banks of 11 economies: Reserve Bank of
Ayala water firm borrows ₧14.3B from Bank of China
M
ANILA Water Co. Inc. (MWC) announced it signed a €250 million, seven-year term loan facility with Bank of China (Hong Kong) Ltd. and Bank of China Ltd. (Manila Branch). The loan, equivalent to about P14.35 billion in current exchange rates, is the first Euro-denominated commercial loan of the company, according to MWC. The company added it will use the money to finance its capital expenditure program in Metro Manila’s East Zone for 2019-2020. MWC said this spending would go to major projects like development of medium-term water sources, improvements in existing distribution systems, construction of new sewerage treatment plants and expansion of sewer networks. MWC holds the exclusive right to provide water and used water services to the eastern side of Metro Manila (East Zone) under a concession agreement (CA) it entered into with the Metropolitan Waterworks and Sewerage System (MWSS). Under the 2018 Rate Rebasing business plan, the company is programmed to implement capital expenditure projects amounting to P79.4 billion (in 2018 prices) for the period 2018 to 2022. The company provides water treatment, water distribution, sewerage and sanitation services to more than 6 million people in the East Zone, comprising a broad range
MANILA Water officers led by CFO and Treasurer Ma. Cecilia T. Cruzabra (center), with Bank of China (Hongkong) Ltd. Deputy Chief Executive Wang Bing (sixth from left) and Bank of China Ltd. (Manila branch) Country Head Deng Jun (fifth from right).
of residential, semi-business, commercial and industrial customers. The East Zone encompasses 23 cities and municipal-
ities spanning a 1,400-square kilometer area that includes Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig,
Marikina, most parts of Quezon City, portions of Manila, as well as the following towns of Rizal: Angono, Antipolo,
Baras, Binangonan, Cainta, Cardona, Jala-Jala, Morong, Pililia, Rodriguez, San Mateo, Tanay, Taytay and Teresa.
Filipino financial advisor to speak at global conference
C
RISTINE TAN, financial advisor for Insular Life Assurance Co. Ltd., is set to speak at the 2019 Million Dollar Round Table (MDRT) Global Conference to be held in Sydney, Australia, on September 1 to 4. Tan is among the financial professionals from around the world the MDRT chose to speak in the conference after a meticulous selection process. She will give separate talks entitled “The HeART
of Selling” in the MDRT Main Platform, and “Unmasking through Fact and Feeling Finding” in a breakout session. Tan will share her personal experience on how to effectively and efficiently get across to clients and eventually win a sale. “My sales principle is that in every encounter I make, I need to win it. Primarily because, No. 1, I am taking my client’s time and I’m also giving my time,” Tan was
quoted in a statement as saying. “If it’s not worth both our time, then it will be a waste. No. 2, I feel that I have a lot to offer and this confidence is anchored on the fact that I take responsibility on the lives of my clients and their families.” Tan serves as the soliciting official of Synergia Insurance Agency Inc., a general agency of Insular Life, and carries 21 years of experience in the life insurance
industry. She has qualified for the MDRT for 16 years and is now a “Qualifying and Life Member” and “Honor Roll Member.” The MDRT is an independent international organization of more than 66,000 leading life insurance and financial services professionals. Membership in this organization is recognized internationally as the standard of excellence in its industry.
Perspectives What is the level of alignment between HR and the C-suite?
W
ITH respect to artificial intelligence (AI) and its impact on the work force, the disparity among human resource (HR) leaders and the C-suite is striking. More than half of the HR executives surveyed—60 percent—believe AI will eliminate more jobs than it creates. Conversely, our 2018 Global CEO Outlook study revealed about the same number of CEOs—62 percent—believe AI will create more jobs than it eliminates. Turning to workplace culture, as we noted in our key findings, HR leaders consider it a top barrier to digital transformation with about a third calling their current culture still more task oriented than innovative or experimental. A look at our Harvey Nash/KPMG CIO 2018 Survey shows that 85 percent of CIOs view innovative or experimental culture as quite important or very important to success on the digital transformation front. Our
message here is that only decisive action now by HR in close collaboration with the C-Suite will redefine yesterday’s task-focused work team into tomorrow’s innovative and futuristic work force. “The next-generation HR function has an essential role to play, replacing traditional ‘best practices and cost-cutting’ approaches with bold new strategies, structures, tools, processes and metrics,” notes KPMG’s Vishalli Dongrie, head of People & Change in India. “The goal is to drive an ongoing solution in which HR reshapes itself and the organization’s work force to drive value and competitive advantage as never before. According to the World Economic Forum, more than a third of the skills considered important today will change within a few short years amid the proliferation of digital processes and the integration of digital and human labor. Future-focused work force shaping is a key component of
tomorrow’s successful workplace. “Time is of the essence and today’s HR leaders need to be initiating and sustaining ‘the right conversations’ with business leaders,” says Johanna Söderström, SVP HR at The Dow Chemical Co. “HR teams need to become ” comfortable being uncomfortable in today’s disrupted environment. “The key is to change the mindset of HR—to put ourselves in business managers’ shoes,” she adds, “to focus on how the HR function can play an unprecedented role unlocking new value for the organization.” We are also seeing an upward trend in how HR is valued by CEOs showing signs that the uphill battle to prove value is veering toward success. Just how valuable is the HR function and its work force management to the businesses they serve? Many HR executives we surveyed expressed confidence about HR’s strategic value and performance—40 percent agreeing the HR function
is considered a core value driver by their senior leadership, and with 34 percent at least slightly agreeing. Data from KPMG’s 2018 CEO Outlook Survey suggests CEOs are indeed increasingly viewing their work force/HR capabilities as effective (47 percent agree). Ideally, HR leaders will continue to step up amid the headwinds of change, particularly in areas, such as automation and AI capabilities. Of course, time is of the essence. The excerpt was taken from the KPMG article “The future of HR 2019: In the Know or in the No.” © 2019 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in the Philippines. For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.
Australia, People’s Bank of China, Hong Kong Monetary Authority, Bank Indonesia, Bank of Japan, Bank of Korea, Bank Negara Malaysia, Reserve Bank of New Zealand, Monetary Authority of Singapore, Bank of Thailand and the BSP. The governors’ statement also showed that central banks in the region reaffirmed the importance of having an effective platform for policy dialogues and strengthening regional cooperation in areas of mutual interest. The Governors accepted the offer of Hong Kong Monetar y A ut hor it y to ho s t t he 2 5t h EM E A P G o ve r nor s’ Me e t i n g in 2020.
Citibank launches 8 currencies in debit card via online wallet
C
ITIBANK Philippines announced it is introducing a feature in its Debit Mastercard that travelers can use in countries recognizing eight currencies. In a statement, the company said travelers can now access eight currencies in one Debit Mastercard with Citibank Global Wallet, a new feature which allows customers to make purchases overseas at pointof-sale or online, and withdraw cash from Citibank automated teller machines (ATMs) without incurring additional currency conversion charges. “Citi is the first bank in the Philippines to introduce this feature,” the bank said. “Customers now have access to eight foreign currencies: Philippine peso, US dollar, Euro, Australian dollar, Sterling pound, Japanese yen, Hong Kong dollar and Singapore dollar.” “Citibank Global Wallet is a key feature embedded in the Citi Mobile App. Clients looking for greater convenience can enable this feature. It is hasslefree and worry-free,” Citi Philippines Consumer Business Head Manoj Varma said. With its trademark mobile app or Citibank Online, existing Citigold and Citi Priority bank account holders can turn on Citibank Global Wallet and open an account in any of the eight foreign currencies in an instant, according to the company. To fund their newly opened foreign currency account, they can transfer funds online from their existing US dollar or Euro account. “Citibank Global Wallet automatically switches to the relevant currency,” the bank said. “So if a customer is traveling to Sydney, all point-of-sale, online transactions and overseas ATM cash withdrawals will be automatically debited from their Australian dollar account as long as there is sufficient balance.” “Citibank Global Wallet is perfect for traveling overseas, making online purchases and transferring foreign currencies for payments,” Citi Philippines Retail Bank Head Therese Chan was quoted in the statement as saying. “Customers don’t have to go all the way to a bank or to a money changer to exchange foreign currency before a trip,” Chan added. “They don’t even have to worry about bringing a big amount of cash with them. They can use the wallet anytime, when visiting family or friends in those countries, or whether traveling for business or for leisure.”
B4 Monday, September 02, 2019
CREBA, La Salle offers certificate course on property titling
GORAYEB
T FROM LEFT: Prof. Randy Nonato-Brafe Golf XIV Core Group, Mr. Roy Pena-Chairman Brafe Golf XIV, Mr. Anthony Cabangon-BM Publisher, Mr. JR Hernandez--Brafe Gold XIV Core Group and Mr. Bong Africa-Brafe Golf XIV Core Group during Business Mirror and Brafe Golf XIV Core Group MOA singing held at BM office in Makati City. Photo by ROY DOMINGO
Philusa celebrates 62nd year with a medical mission at indigent community
P
HILUSA Corporation, known for providing Filipinos with a wide range of quality and affordable products, celebrates its 62nd year through a medical/dental outreach at Batasan, Quezon City. Providing quality medical assistance to underprivileged women and children of Session Road, the initiative was supported by Operation Blessing Philippines
Foundation Inc. (OBPFI), the humanitarian arm of CBN Asia, which reaches out to the most neglected and economically disadvantaged people in the country. Volunteer health professionals including doctors, nurses and dentists from OBFI were present to help facilitate the mission. “Philusa has always been in the forefront in providing Filipino
families high quality yet affordable products. It has always been our pledge to continuously touch and improve the lives of Filipinos. As we celebrate our 62nd anniversary in the country, we would like to reaffirm and strengthen our advocacy in motivating Filipinos from all ages and all walks of life to make healthier choices, enabling us to look forward to a fuller and more enjoyable
Student Investment Champion Eyes Indonesian Market
T
HE winner of the first-ever international investment challenge run by Oxford Business Group (OBG) has identified infrastructure in neighbouring Indonesia as the sector offering the most promising opportunity for foreign direct investment (FDI). Jofer Princesa, an MBA Regis student at the Ateneo Graduate School of Business (AGSB), emerged the champion from a hotly contested competition that was open to all students at the prestigious school. For the duration of the five-week challenge, registered students were given free access to the research terminal of OBG, a leading provider of business intelligence and advisory services on emerging markets. Participants were required to use the group’s online research
tools to answer the question: “Assuming you possessed the required resources, of all the markets covered by OBG reports, in which country and sector do you identify the most promising opportunity for FDI to generate sustainable and lucrative ROI over the next 10 years?” The investment challenge was designed to encourage the Philippines’ next generation of entrepreneurs and business leaders to think globally and seek out lucrative opportunities for investment beyond their own country. In particular, it aimed to help them identify challenges and opportunities that are common across what OBG terms “the yellow slice of the global pie”, their portfolio of small and midsize economies (including the Philippines) growing as fast as the
original BRIC states (Brazil, Russia, India and China. After much deliberation, Princesa’s entry was unanimously voted the winner by a judging panel comprised of OBG’s London-based Chairman Michael Benson-Colpi, AGSB’s Chair of the Department of Economics, Finance and Accounting, Ana Bess Pingol, and OBG’s Regional Editor for Asia, Patrick Cooke. Second place was awarded to Cebu-based Shannen Tan for her lucid entry showcasing the huge opportunity open to develop business process outsourcing (BPO) in Vietnam, where the sector is currently just one-seventh its size here in the Philippines. Third place was awarded to Daniel Roswell Ng, who chose the construction and real estate industry, also in Vietnam. A special ‘social impact’ award was presented to Cebu-based Danilo Dillo, who argued that a major scholarship programme should be introduced to equip millennials in Thailand with an agricultural mindset based on leading global thinking applied to local agricultural situations. The winners took home prizes that included OBG subscriptions, tuition rebates and free parking. Princesa will also feature in a podcast interview on the OBG website.
CARIÑO
HE Chamber of Real Estate & Builders’ Associations Inc. (CREBA), in partnership with the De La Salle College of Saint Benilde School of Professional and Continuing Education (DLS-CSB SPACE), opened the certificate course on “Land Laws and Property Titling” on August 31, 2019. The course is the second of six modules under the Executive Diploma Program in Real Estate Management (EDPREM) offered by the two institutions since 2002. Classes are beingheld at the ninth floor of the CSB School of Design and Arts Campus located at P.Ocampo Street, Manila from 1:00 to 8:30 PM and will run for four consecutive Saturdays until September 21. CREBA, headed by national president Noel Toti M. Cariño, is the Philippine umbrella organization of the real estate and housing industry composed of property developers, builders, contractors, suppliers and manufacturers of construction materials, realty service practitioners and other professionals and entities engaged in over 70 allied fields. The joint CREBA-De La Salle program covers the entire aspect of the highly-complex and multi-disciplinary field of real estate development and management.
The course topic includes: Legal Aspects of Land Titling, Acquisition, Transfer and Registration of Land Ownership; Legal Aspect of Mortgage and Foreclosure & Remedies; Contractual Transactions on Property: Sale, Loan & Lease (Elements of Contract Law, Salient Points of Sale, Loan & Lease; Laws on Estate & Succession; HLURB: Jurisdiction, Registration, Adjudication, Monitoring & Clearances, with discussion on HOA (Evolution of Law creating HLURB and its Rules of Procedures); Land Developers & Buyers: Obligations, Rights & Remedies (Pertinent Provisions on Sales, Warranties; PD 957, 12 July 1976 & RA 6552, 26 Aug. 1972, The Maceda Law & RA 9904, 07 January 2010); Land Classification, Reclassification & Conversion with DARAB Rules of Procedure and Issues and Jurisprudence on Subdivisions and Condominiums (HOAs and CondoCorps). Other courses offered for the rest of the year tackle Effective Real Estate Marketing Tools, Real Estate Planning, Development & Environmental Concerns, Highest and Best Uses for Real Estate, Real Estate Financial Planning and Management and Real Estate Project Feasibility Studies. CREBA national chairman Charlie A.V. Gorayeb said that participants are awarded certificates for each course attended, while a diploma is earned by successfully completing all six EDPREM modules. Discounts are available for CREBA members, government personnel, and DLSU alumni. Inquiries may be forwarded to telephone nos.: 400-7405 or 400-5425 (SPACE) or 373-2270 to 75 (CREBA), or via email address: creba_national@yahoo.com or space@benilde.edu.ph
Sports BusinessMirror
C1
| Monday, September 2, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
NAOMI OSAKA consoles a teary Coco Gauff. AP
A TRUE ATHLETE
By Howard Fendrich The Associated Press
N
EW YORK—Naomi Osaka looked across the net after ending Coco Gauff’s US Open in the third round Saturday night and saw the tears welling in the 15-year-old’s eyes. So the tournament’s defending champion and No. 1 seed, who is only 21 herself, comforted Gauff with a hug and words of consolation, then encouraged her to address the 23,000 or so folks in the Arthur Ashe Stadium stands who were pulling for the young American. Knowing how tough it is to lose, Osaka told her: “You need to let those people know how you feel.” So Gauff obliged—a rare instance of a match’s loser addressing the crowd from the court. And was appreciative of Osaka’s gesture. “She just proved that she’s a true athlete. For me, the definition of an athlete is someone who on the court treats you like your worst enemy, but off the court can be your best friend,” Gauff said later at her news conference. “I think that’s what she did tonight.” It’s that sort of maturity off the court, and a wise-beyond-her-years game on it, that has helped Gauff generate all sorts of attention already. She was the youngest woman since 1996 to win two matches at Flushing Meadows, her follow-up to a captivating run to the second week at Wimbledon in July. In this much-hyped showdown under the lights, Gauff often looked exactly like what she is: an immensely talented player who is still learning her way at tennis’ top level. “We definitely know what we’ve got to work on,” Gauff’s father, Corey, said. “She wanted to win the match. It wasn’t, ‘See how well you can do.’” Gauff pounded serves at up to 119 mph but also double-faulted seven times. She overcame a slow start to get within 4-3 in the opening set but also dropped the last eight games. Don’t forget: The US Open was only the second Slam for Gauff, who was ranked No. 313 at the start of Wimbledon and is now No. 140. Osaka’s advantages in age and accomplishments—she is a two-time major champion, including at the Australian Open in January—played a role. So, too, did her on-target power, which resulted in a 24-8 edge in winners. “For me, this is the most focused I’ve been since Australia,” said Osaka,
who’s had an up-and-down season since earning that trophy and is wearing a black sleeve on the left knee that’s been problematic lately. Addressing Gauff, she said: “I’m so sorry for playing you [with] this type of mentality.” When it ended, after merely 65 minutes, Gauff began to bawl on the sideline. Osaka approached her and they spoke, briefly, then later cried, too, while addressing Gauff’s parents on-court. “For me, it’s crazy to me to see how far she’s come in such a little amount of time,” said Osaka, who was born in Japan and moved to the US when she was three. Both players are based in Florida now and have known each other for a few years. Their fathers are friends. “She was crying; she won. I was crying. Everybody was crying,” Gauff said. “I was like, ‘You won the match!’” Gauff acknowledged feeling some jitters at the outset, and Osaka produced the match’s initial seven winners.
DANIIL MEDVEDEV finds out that in New York, the fans don’t wait to be asked. AP
It took all of 10 minutes for Osaka to lead 3-0. When Gauff did claim a game, she did so with a couple of exclamation points in the form of aces at 105 mph, then that one at 119 mph. Osaka slumped her shoulders. The crowd roared. It seemed, fleetingly, that this might be a competitive match. “Next time I play her,” Gauff said, “I’m going to try to come up with a different plan.” Soon enough, Osaka was edging ahead—and then pulling away, showing the same poise and power that carried her to the championship a year ago in a memorably chaotic final against Serena Williams that ended with spectators booing and both women in tears after the 23-time major champion got into a lengthy dispute with the chair umpire. On this evening, Gauff’s body language was getting worse and worse, whether it was a slap of her thigh or raising her racket overhead as if contemplating a spike or the palms-up glare toward her parents and others in a courtside guest box to ask why they weren’t giving her more support. Gauff’s dad said afterward that his daughter might not appear on tour again until next year,
Medvedev encourages fans to boo—they do
N
EW YORK—Daniil Medvedev extended his arms toward the crowd, then motioned for the fans to keep raining down the boos. In New York, they don’t wait to be asked. The crowd had been letting him have it since early in his third-round matchup with Feliciano Lopez on Friday night, and the fans who were still there after Medvedev completed the last match of the day at the US Open with a 7-6 (1), 4-6, 7-6 (7), 6-4 victory let loose with whatever voices they still had. In a post-match interview that seemed better suited for WrestleMania than the US Open, Medvedev told fans that he’d won because of their energy. “I want all of you to know when you sleep tonight, I won because of you,” Medvedev said. As the jeers grew louder—and one fan was seen extending his middle finger—the No. 5 seed added: “The more you do this, the more I will win for you guys.” Medvedev was more contrite later in a brief interview with reporters, adding that he had spoken to Lopez and said his opponent understood. The trouble started in the first set, when a frustrated Medvedev snatched the towel from a ballperson and was given a code violation by umpire Damien Dumusois. Medvedev then threw his racket in the direction of Dumusois, barked something at him and later flashed his middle finger next to his forehead as he walked past the umpire’s chair. “I was in the heat of the moment. Started losing the momentum, so I mean, was tough,” Medvedev said. “Was tough and I don’t really remember. I mean, I paid for it the whole match after, because as you saw it wasn’t easy. So I’m just happy to win.” The US Tennis Association said Saturday that Medvedev was fined
because of age restrictions on the women’s tour that limit how many tournaments someone who is 15 may enter. Next for Osaka is a match Monday against 13th-seeded Belinda Bencic of Switzerland with a quarterfinal berth at stake. Other matchups Monday: American qualifier Taylor Townsend versus No. 15 Bianca Andreescu of Canada, American wild-card Kristie Ahn versus No. 25 Elise Mertens, and No. 23 Donna Vekic of Croatia versus No. 26 Julia Goerges. Moving into the men’s fourth round were three-time champion Rafael Nadal and 2014 title winner Marin Cilic, who are the only past Grand Slam champs in their half of the draw and now must face each other. Cilic, the No. 22 seed, overcame his own 17 double-faults and withstood 40 aces from 14th-seeded American John Isner to win 7-5, 3-6, 7-6 (6), 6-4. With Isner and Tennys Sandgren losing Saturday, zero American men reached the fourth round. Other winners included No. 6 Alexander Zverev, No. 13 Gael Monfils, No. 24 Matteo Berrettini and unseeded Andrey Rublev, who beat the evercombustible Nick Kyrgios 7-6 (5), 7-6 (5), 6-3. Kyrgios is facing a possible suspension after calling the ATP “pretty corrupt” over a $113,000 fine it levied for outbursts at a tuneup tournament. He was relatively subdued Saturday, other than calling a line judge a “whistleblower” for reporting him to the chair umpire for cursing. There’s always something with Kyrgios, who said afterward his eyes might have had trouble adjusting to the artificial lights in Ashe because he plays too many video games.
$5,000 for unsportsmanlike conduct for the towel snatch and toss, and $4,000 for holding his middle finger against the side of his face. He has been docked $19,000 for his actions in his three matches. The Russian came into the final Grand Slam of the year as perhaps the hottest player on tour, winning the Western & Southern Open in the last of three straight tournaments in which he reached the final. He’ll be favored to reach the quarterfinals, as his next match is against 118thranked qualifier Dominik Koepfer. He was asked if he’s worried about playing that match and the ones that follow at the US Open with the crowd against him. “Tough question to answer,” he said, “because what I can say is that I’m working on myself and hopefully I will be better next time.”
EASY FIRST WEEK FOR NADAL
AFTER his US Open title defense was cut short last year because of injury, perhaps an easy first week was exactly what Rafael Nadal needed. On the other hand, it could leave him underprepared for the tougher times ahead. “You never know what’s better or worse, no?” Nadal said. He was back on the court Saturday for the first time in five days, beating Hyeon Chung 6-3, 6-4, 6-2 to reach the fourth round for his 13th straight Grand Slam tournament. Nadal hadn’t played since Tuesday, when he beat John Millman in straight sets in the opening round. Nadal was forced to retire from his match against Juan Martin del Potro in last year’s US Open semifinals because of knee pain that has been an issue for the 33-year-old Spaniard on hard courts. He had to pull out again before a semifinal match against Roger Federer earlier this year in Indian Wells that then kept him out of Miami. But he won a hard-court title in Montreal earlier this month and said he felt healthy coming into this tournament. He then got an unscheduled night off Thursday when Thanasi Kokkinakis had to pull out with a shoulder injury, and will have spent only slightly more than four hours on court through the first eight days of the tournament. “But for me personally, in some way, I will prefer to play the match,” Nadal said. “In some way is true that you save energy. So you never know what’s the best thing.” AP
TENNIS fans crowd the edge of the court hoping for an autograph from Rafael Nadal on Saturday. AP
C2
Spo
Business
Monday, September 2, 2019
PLACIDO DOMINGO EVENT FOR TOKYO 2020 HANGS
T
OKYO—The Tokyo Olympics organizing committee has not decided what it plans to do about the appearance of Placido Domingo at a 2020 Games event and is looking into allegations the opera star sexually harassed several women. The Associated Press reported earlier this month on extensive allegations against Domingo, spanning decades. Women accused Domingo of using his power to pressure them into sexual relationships, including at the Los Angeles Opera, where he is the longtime general director. Domingo called the allegations “deeply troubling, and as presented, inaccurate,” adding that he believed “all of my interactions and relationships were always welcomed and consensual.” The organizing committee said Friday in a statement: “Tokyo 2020 is seeking to clarify the situation.” Domingo is scheduled to appear next April in an Olympic-sponsored event that brings together opera and the traditional Japanese theater of Kabuki featuring Ebizo Ichikawa, as part of its Nippon Festival, which seeks to promote Japanese culture and diversity. Global reaction has been mixed on Domingo’s scheduled appearances. Two US performances were canceled by the organizers, but his European engagements have continued. The #MeToo movement has not caught on in Japan with the intensity it has in some Western nations, partly because pressures remain high for victims to keep quiet amid widespread fears about a social backlash. Several women told the AP that Domingo tried to pressure them into sexual relationships by dangling jobs, in some cases punishing them when they refused his advances. Several other women said suggestive overtures by Domingo made them uncomfortable. The allegations date as far back as the 1980s. In Laussane, the International Olympic Committee (IOC) has detailed a “fair and
WOMEN accuses Placido Domingo of using his power to pressure them into sexual relationships, including at the Los Angeles Opera, where he is the longtime general director. AP
transparent pathway to the Olympic Games” for male and female boxers trying to qualify for Tokyo. Four continental qualification tournaments have been confirmed as expected in China, Senegal, Argentina and Britain in a two-month spell from February to April. A final global qualifying tournament will now be held in Paris, and not Tokyo as previously believed, from May 13 to 24. The IOC took over organizing the boxing competition at the 2020 Tokyo Games after stripping governing body International Boxing Association (AIBA) of the right in June. An IOC panel investigated AIBA’s leadership, governance, finances and long-standing doubts over the integrity of Olympic bouts. The IOC says it is finalizing appointing an independent review of “selecting and evaluating boxing referees and judges.” Boxing in Tokyo will have eight men’s weight classes and five women’s weight classes. AP
China tries to gain traction in worlds
B
EIJING—The China men’s basketball team was woeful at the last two Olympics. It went 0-5 three years ago in Rio de Janeiro, and had the same abysmal record in 2012 in London. Now there’s a big chance to make amends at home. “We lost all our games and came back. It was disappointing,” China Coach Li Nan said of play in Rio. “This year we’ve put a lot of effort into preparing for this tournament and we want to show—with some adjustments and with the same core group of guys—that we can compete on the international level.” They did on Saturday as the two-week tournament opened across the country. China defeated the Ivory Coast, 70-55, for a positive start in Beijing on the first day of play. Though early tournament games are spread across eight venues, much of the focus is on Beijing. China plays its initial group games here, and it’s also the site of the semifinals and final. “China basketball has very high expectations for this tournament,” Li said. China has tried foreign coaches—Americans and Europeans—but has turned back to a Chinese hoping for success. Conditions are favorable for China if it can exploit them. Its four-team group is modest with Poland, Ivory Coast and Venezuela. It avoided any powerful European teams in the draw like Serbia and Greece. And home crowds should push it to be among the group’s top two teams that advance to the second round. “They are gaining experience in different places, but what they are still looking for is that superstar,” said Josh Davis, who played at Yale and is announcing games in Beijing for international broadcasts. “Yao Ming was an international superstar. They don’t have that right now. That’s not just China. Every single country is looking for someone they can build their team around.” Li Nan played for China in the 2008 Olympics when it reached the quarterfinals. And former NBA center Yi Jianlian is the only player from the 2008 Olympics playing on this World Cup team. “Looking back at the 2008 Olympics, we looked at this as our Olympics,” Yi said, speaking through an interpreter. “We want to look at this tournament as the same thing—as our basketball World Cup.” Remnants of Beijing’s 2008 Olympics are major backdrops for the World Cup, though the
Thai champs bring act to Aboitiz Invitational
tournament is much smaller and swallowed up by a sprawling city in which there are only a few indications the event is going on. A well-known soccer fan, Chinese President Xi Jinping attended a lavish opening ceremony on Friday at the Water Cube, the 2008 swimming venue where Michael Phelps won eight gold medals. Yao Ming showed off the Naismith Trophy—it goes to the winner—and shared the stage with dancers, singers and acrobats. Across town, the venue built for basketball—originally called the Wukesong Arena and renamed the Cadillac Arena—is almost unrecognizable from 11 years ago with its gold and red exterior that is plastered with sponsors’ names. Before China’s match, the ticket area outside the arena was teeming with fans waving red and yellow Chinese flags, posing for photos, and showing off tickets. “You see so many fans wearing all kinds of jerseys,” Davis said. “So there is a love for the game, and it’s still relatively new here.” AP
HELLO, FIBA WORLD CUP! CHEERLEADERS perform during a Group C match between Spain and Tunisia on Saturday. AP
S
HANGHAI—The biggest basketball World Cup has begun. Many of the world’s top players— and a couple of the world’s top national teams—are not in China for the Fiba World Cup, a 32-team extravaganza that begins Saturday. At stake over the next 16 days: The world championship, along with seven of the 11 remaining available berths in next summer’s Tokyo Olympics. And several teams figure they can be the one to thwart the United States’s bid for an unprecedented third straight crown. “We’re here to go for gold,” said Sasha Djordjevic, the coach of Serbia—a team that
some consider the tournament’s gold-medal favorite. “Every game that we play will be the biggest game for us.” The first eight games of the tournament are Saturday, and things will move quite rapidly. The eight-game-a-day pace continues through September 9, with quarterfinal games on September 10 and 11, semifinals on September 13 with the event capped by the gold- and bronzemedal games in Beijing on September 15. All told, 92 games will be played in eight cities. “We have nothing to lose,” said Japan guard Yuta Watanabe, whose team will face the U.S. in the group stage. Fiba changed much about the tournament
for this edition. The event was moved back a year; the last World Cup was in 2014, and it was bumped to 2019 this time around to avoid going against the Fifa World Cup for men’s soccer in the same years. The field was expanded from 24 to 32 and qualifying rules were vastly altered largely to keep National Basketball Association and other pro-league players from helping their countries reach the event. For some nations, that became a huge problem. European champion Slovenia, the world’s seventh-ranked team, is not in the World Cup. Same goes for world No. 9-ranked Croatia, which lost eight of its 12 qualifying games. Yet for other nations, the changes sparked opportunity—
Swiss, French riders bag MTB world titles M ONT SAINT-ANNE, Quebec—Olympic champion Nino Schurter of Switzerland won his fifth straight mountain bike world title and Pauline Ferrand-Prevot of France claimed her second just outside of Quebec City on Saturday. Schurter rode clear of OLYMPIC champion Nino Schurter wins his fifth straight mountain bike world title.
countryman Mathias Flueckiger by 30 seconds to add to his championships haul at worlds. Schurter won his first title in 2009, added two more in 2012 and 2013, and began his run of five straight at Vallnord in 2015. That gives him eight total, plus two in the team relay.
N
in the region’s emerging circuit put up by the International Container Terminal Services Inc. in 2017 as platform for local and foreign pros to hone their skills and at the same time to compliment with the existing regional circuits. Other Thais aiming for top finish in the $100,000 championship organized by Aboitiz Equity Ventures Inc. and Pilipinas Golf Tournaments Inc. are Pasavee Lertvilai, Chonlatit Chuenboonngam, Kammalas Namuangruk, Donlapatchai Niyomchon, Natthapong Niyomchon, Tawit Polthai, Puk
Pradittan, Varanyu Rattanaphiboonkij, Nirun SaeUeng and Pachara Sakulyong. But Tantipokhakul and Artjanawat will surely be the marked men in the four-day championship with the former seeking a followup to his one-stroke victory of Finland’s Teemu Putkonen in the kickoff leg at Luisita last April and the latter snapping a long title drought with a record win at Daan TPGA Open last May, the first PGT Asia event to be staged abroad. Outside of the Thais, other foreign bets tipped to
Flueckiger was second and Stephane Tempier of France was third. Ferrand-Prevot had struggled since winning the mountain bike world title in 2015, but finished 43 seconds clear of Switzerland’s Jolanda Neff on Saturday. Rebecca McConnell of Australia was third. AP
Arndt tops 8th stage, Edet takes red jersey
I
GUALADA, Spain—Nikias Arndt of Germany persevered in tricky wet conditions to win the eighth stage of the Spanish Vuelta on Saturday, while Nicolas Edet of France took advantage of a slow run by the peloton to take the overall lead. Arndt, from Team Sunweb, led the breakaway group across the finish line in a 167-kilometer stage that ended with a sprint in Igualada after riders endured a steep climb of more than 7 km and withstood slippery wet roads under heavy rain in the ensuing downhill near the end. “I knew I had to chase every attack and keep things together because I knew I could win from a sprint,” the 27-year-old Arndt said. “This is one of the best days of my career. I’ve always said I want to win a stage in every Grand Tour and this is a step forward on that goal. When I crossed the line I still couldn’t believe I’d won a stage on La Vuelta.” AMCHOK TANTIPOKHAKUL and Wisut Artjanawat, winners of two of the first three legs of the third Philippine Golf Tour Asia, set out for another shot at the PGTA crown as spearheads of a crack Thailand side all primed up for the ninth Aboitiz Invitational which gets going on Wednesday at Wack Wack’s East course. Ratchapol Jantavara and Tawan Phongphun, who finished 1-2 in this year’s PGTA Qualifying Tournament at Luisita, are also in the fold, raring to join the growing roster of Thai winners
Nigeria, Venezuela, Italy and Japan all qualified for the first time since 2006, and Poland made the field for the first time since 1967. “The World Cup is an unbelievable competition,” said Canada Coach Nick Nurse, who doubles as coach of the NBA champion Toronto Raptors. “Great teams and coaches, and scouting, and work and preparation that will make anyone better for going through that. So I’m extremely honored and excited and humbled to be here.” Most of the top Americans aren’t in the World Cup, a few because of injuries, other candidates cited schedule concerns. Of the 35 leading scorers from this past NBA season who would have been eligible to play for the US team, only two—Kemba Walker of the Boston Celtics and Donovan Mitchell of the Utah Jazz—are wearing the red, white and blue in China. “I’m more concerned with who is here than who isn’t,” US Coach Gregg Popovich said. For the international teams, though, there’s minimal concern about big-name absences. Greece is led by NBA MVP Giannis Antetokounmpo of the Milwaukee Bucks, Serbia is led by All-NBA center Nikola Jokic of the Denver Nuggets and France features thirdteam All-NBA center Rudy Gobert. And the host Chinese are hoping to make a splash, as well. “It’s a rare opportunity for all of us,” former NBA player Yi Jianlian, now the Chinese captain, said in Beijing earlier this week. “You can feel the special duty when you see the national flag on your chest.” AP
contend for the top $17,500 purse are Tarik Can, Sam Gillis, Lexus Keoninh, Charles Lee, Matt Lutz, Brett Munson, Joshua Salah and Sean Talmadge of the US, Aussies Tim Stewart, David Gleeson, Sam Gervinas, Fidel Concepcion and Jerram Chudleigh, Japanese Issei Mori, Keita Sudo, Nayoa Takahashi and Seiji Yanagisawa, and Shin Seung Woo, Park Jun Sung, Moon Seung Ryul, Lee Sang Min, Lee Hyun Jun, Jung Chae Won and Hwang Myung Chal of Korea. Also in the hunt are Thammasack Bouahom of Laos, Gabriel Cheok and Gregory Foo of Singapore,
Alex Aranburu of Spain was second, and Tosh Van der Sande of Belgium finished third. Miguel Angel Lopez relinquished the leader’s red jersey for a third time in this year’s Vuelta after being held in the peloton that crossed the line more than nine minutes behind Arndt. The gap allowed Edet, from team Cofidis, to take the overall lead and gain two minutes and 21 seconds over second-placed Dylan Teuns, the Belgian who held the red jersey earlier in the week. “It might very well have been the opportunity of a lifetime to take the leader’s jersey and I had to seize the opportunity,” Edet said. “I had ‘La Roja’ in the back of my mind since the start of La Vuelta.” Lopez, a Colombian, was three minutes off the lead going into a crucial ninth stage on Sunday, when riders will face several climbs and a 4-km gravel track near the end in Cortals d’Encamp. AP Spain’s Rafa Culla and Salvador Paya Vila, Teddy Ho of Hong Kong, Scotland’s Julian Hood and Ryan Hood, Englishmen Matt Killen and George Twyman, Jesus Rafael Para of Venezuela, Luke Trocado of South Africa and Argentine Emilio Parodi. Jay Bayron, on the other hand, will lead the local challenge with the veteran Davaoeño campaigner also going for a personal milestone—a record third win in the event that has become one of the most sought-out championships this side of the region. AP
orts
sMirror
Monday, September 2, 2019 C3
FILIPINOS FACE ELIMINATION
P
UTTING the devastating loss to Italy out of memory, Gilas Pilipinas banks on a full day of rest to recollect when it faces a virtual do-or-die match against powerhouse Serbia in the Fiba World Cup on Monday at the Foshan International Sports and Cultural Arena in China. Game time is 7:30 p.m., with the national team hoping to scale a tall order that are the Serbians for its second assignment that serve as a must-win affair if the Filipinos wish to advance to the next round. Gilas was badly beaten by Italy, 62-108, to the shock of fans and spectators that included President Duterte who was in attendance last Saturday.
P
Not even the President’s pep talk before tip off could inspire the squad, which went up against an Italian team backed by two National Basketball Association veterans and a group that was built to fire from all angles. Everyone expected that Gilas would give a good fight, especially that in the 2014 edition in Spain, the national team had some close results in the eliminations with their biggest loss only at 12 points to Greece. But the Italians were just too hot to handle. Coupled with a bulk of turnovers that turned into easy points, plus an asset of shooting that turned to its greatest downfall, the Filipinos knelt badly. “If we were to lose, we need to play decent
By Ramon Rafael Bonilla
UERTO PRINCESA City—Baguio City bets beamed with the widest smile on Sunday as thousands of student-athletes left the Palawan capital for home after almost a week of fun and competition in the Batang Pinoy National Finals. The City of Pines leaned on its late harvest in combat sports to rake in 61 gold, 45 silver and 66 bronze medals to retain the overall championships. Occasional rains could not stop Puerto Princesa from giving the best it has to offer when it accommodated 7,500 athletes and students for the multisport grassroots event organized by the Philippine Sports Commission and supported by Milo. In general, the weather did not cooperate when the heavy downpour halted some of the 31 sports that were contested. But the show went on, and Baguio City took care of business in wushu and muay thai where it won 14 and 10 gold medals, respectively—enough to pull itself away from Cebu City and Davao City. The team from the highlands also had eight golds in wrestling and judo, and also took home five in taekwondo to duplicate its performance last year when it hosted the Finals. As overall champion, Baguio City will receive P3 million worth of sports equipment from the PSC. Rallying behind wonder kid Aldrener Igot Jr., Cebu City bagged 34 golds, 34 silvers and 29 bronzes to finish second. Igot, the 14-year-old archer who zoomed to fame after a subpar campaign last year, was the most decorated athlete with eight gold medals. Also among the top performers were swimmers Mark Bryan Dula of Parañaque City, Aubrey Tom of Cainta (Rizal) and John Alexander Talosig of Cotabato, who copped five gold medals each. Karl Eldrew Yulo of Manila was also a quintuple winner in gymnastics. Davao City came third with a haul of 31-24-37 (goldsilver-bronze), followed by Laguna Province (27-24-18) and Quezon City (25-25-23).
3X3, TENNIS, BEACH VOLLEY IN SEASON 82
basketball,” Gilas Head Coach Yeng Guiao said. “This is a learning experience.” The nationals only hit three of 23 three-point attempts and had 23 turnovers with naturalized player Andray Blatche committing nine of them. Blatche, the former Brooklyn Nets center, scored 15 points and added 10 rebounds. But his game did little, especially when the team needed a man to lean on. Italy immediately stepped on the gas and had everyone from the Gilas side on check, putting a defensive mastery that resulted into a 22-4 start. From a 37-8 score in the first quarter, the fight seemed over for the nationals. But the loss isn’t all disappointment.
On the bright side, rookies CJ Perez and Robert Bolick shocked the world stage by showing nerves of steel even against the Italians. Perez of Columbian Dyip tied Blatche’s scoring output of 15 points, with some gutsy drives and acrobatic finishes worthy of comparison to a seasoned veteran. Bolick of NorthPort had six points, four coming from his perfect trip in the free-throw line. June Mar Fajardo also showed finesse underneath with his nine points and six boards. Luigi Datome and Amedeo della Valle topscored for Italy with 17 points apiece, while Danilo Gallinari added 16 points built on four triples. They hit 15 triples and only committed 13 turnovers.
BAGUIO KEEPS BATANG PINOY TITLE
PARTICIPANTS vie in the First Philippine National Open Swimming Championships at the New Clark City’s Aquatics Center.
NEW CLARK CITY SEA GAMES READY
C SEASON 82 President Em Fernandez of Ateneo head Sunday’s press conference that was also attended by Basketball Commissioner Jensen Ilagan, Far Eastern University’s Anton Montinola, National University’s Nilo Ocampo, University of Santo Tomas’s Rodrigo Sambuang and Gilda Kamus, University of the Philippines’s Kiko Diaz and League Treasurer Erika Dy (Ateneo), Executive Director Rebo Saguisag and Vice President Emmanuel Calanog (De La Salle), De La Salle’s Edwin Reyes, Adamson University’s Fr. Andrew Bayalom, University of the East’s Zosimo Batad and Rod Roque, ABS-CBN Head of Integrated Sports Dino Laurena and FEU’s Mark Molina. ROY DOMINGO
T
HE University Athletic Association of the Philippines (UAAP) is opening its door for more student-athletes to showcase their talents by adding more sports to its calendar. During the press conference of the 82nd season of the league Sunday, Season 82 host Ateneo de Manila University announced during the press conference on Sunday at the MOA Arena the addition of 3x3 basketball for college, and tennis and beach volleyball for high school. UAAP Season 82 President Em Fernandez of Ateneo made the announcement. For the past two seasons, 3x3 basketball was a
demonstration sport. With the active participation of all the member schools, the league has deemed to upgrade the discipline as an official sport, raising the medal events in the collegiate level to 31. Far Eastern University will serve as the subhost for this season’s 3x3 basketball tournament set in March 2020. Beach volleyball, which will be sub-hosted by University of Santo Tomas, will open its curtains in January while tennis, which will be sub-hosted by National University, is scheduled to take off in February. Defending champion Ateneo, meanwhile, is the hands-down team to beat in Season 82.
The Blue Eagles were, as expected, the unanimous choice of the coaches during the preseason press conference. “It’s a given that Ateneo is going to be on top,” said UP Coach Bo Perasol. Adamson University’s Franz Pumaren agreed. “It’s quite obvious already. It’s Ateneo and they should be rated number one. From player one to sixteen skills-wise, they’re all the same.” Ateneo Coach Tab Baldwin welcomed that pressure from his peers. “I know expectations are high for our team and it’s our job to play the best basketball as we can,” said the two-time UAAP champion coach.
APAS, Tarlac—In preparation for the 30th South East Asian (SEA) Games, national athletes tested the new and modern sports facilities at the New Clark City during the pre-qualifying competitions in swimming and athletics over the weekend. The First Philippine National Open Swimming Championships organized by the Philippine Swimming Inc., is being staged at the 2,000-seat Aquatics Center until Tuesday. The final leg of the 2019 Philippine Athletics Track and Field Association Weekly Relay Series were conducted at the 20,000-seat Athletics Stadium on Sunday. The winners will be part of the national team for swimming and athletics to the SEA Games set from November 30 to December 11. “Before, these facilities were just a dream. Now, I’m happy to see our athletes training here as they make their country proud in the upcoming biennial games,” BCDA President and CEO Vince Dizon said. “The facilities are proof that government is serious in providing our athletes with a sports center that is truly world-class,” Dizon added. It also marked the first time that the road from New Clark City to the Subic-Clark-Tarlac Expressway was used by the athletes. The road will boost accessibility in the area and ease traffic especially during main events. The newly finished Athletics
H
track to making the SEA Games a successful hosting as directed by President Rodrigo Duterte,” PSC Chairman William “Butch” Ramirez, who is also the chief of mission of Team Philippines to the SEA Games, said. “The recent tripartite agreement among officials of the Philippine Olympic Committee [POC], Philippine Sea Games Organizing Committee and PSC also moved forward the preparations for the Games,” Ramirez said. “POC President [Abraham] Bambol Tolentino has also galvanized all national sports associations into one direction,” he added. Also undergoing renovation are the Philsports Arena in Pasig City and the Ninoy Aquino Stadium also inside the Rizal Memorial Sports Complex in Manila.
Stadium and Aquatics Center meet the standards of international governing bodies—International Association of Athletics Federations and the Federation Internationale de Natation. Inspired by native features, the facilities were designed and built to show the resiliency of the Filipino spirit. The Athletics Stadium takes inspiration from the caldera or crater of Mount Pinatubo and the organic lahar material of the concrete. The stadium features a world-class 400-meter, nine-lane standard track. The design for the Aquatics Center shows the coastal heritage of the Filipino people, depicting Capiz shells used as windows, while the structural faming mimics the weaving patterns of the baklad or woven fish nets. The Athletes’ Village inside the New Clark City sports complex will serve as home of the athletes, officials and international volunteers for the entire duration of the SEA Games. It has 525 rooms, 95 of which are for PWDs, gym amenities, kitchen and dining areas, conference rooms and other recreational facilities. After SEA Games, the facilities will be used by Filipino athletes for training and will serve as venues for events, concerts and other sports events.
RICK OLIVARES bleachersbrew@gmail.com
BLEACHERS’ BREW
We go. Again.
IN the wake of the Philippines’s 108-62 loss to Italy in the Fiba World Cup, you have people saying that we should stop putting our focus on basketball but turn our attention and efforts to other sports. While I do agree that other sports should be given attention, supporting, financing, and whatnot, that doesn’t mean we should abandon basketball. Does it follow that if we focus on tennis or football we will have a shot as some huge titles? Not necessarily. What other countries have basketball as their national sport—Lithuania, Israel, Mongolia, Russia, South Korea, Turkey, Georgia, Venezuela and Slovenia. Many other countries have basketball as a second sport either to football or hockey. If you look at the aforementioned countries, not many of them have won international titles in the basketball. Even footballing nations like England—and for a time, Spain and France—Colombia, and Chile haven’t really won much in international football. Must they abandon that sport in favor of rugby, cricket or basketball which is growing there, as well? When football picked up in the Philippines in 2011, our national team has won some and lost a bunch of heartbreakers. But we still go at it. Yet, even in the midst of these runs, you have some quarters calling the team out for a lack of homegrown flavor (with more Filipinos born overseas dominating the roster). Everyone has something to say. Being immersed in the local music scene, I often hear local musicians say that we Filipinos are some of the best musicians in the world. Maybe. Maybe not? But why do we blow our own horn? Others should say that. And well, name me one international breakout star who commands huge audiences, headlines, album sales? Lea Salonga? Freddie Aguilar did—for one song. Anyone else? The losses in the international arena are painful, galling and sometimes embarrassing. Remember when our first all-PBA team got smashed in the 1990 Asian Games? The crowds at the Big Dome were sparse after that. The funny thing is people love to point to the PBA all the time as to blame for these losses. Hasn’t it occurred to you that many other countries have pro leagues as well and that doesn’t stop them from being good at the sport. Can it not also be that other countries— especially our Asian neighbors have either caught up or leapfrogged past us in the sport? How about boxing? There was a time when we had a number of champions in eight different classes. Now? Hmm. Does that stop our boxers from going at it again and again heartbreak aside? No. Time was in basketball our toughest rivals were China, Japan and South Korea. In the past 10 to 15 years, the West Asian or Middle eastern countries have become powers in their own right. Now the Oceania countries Australia and New Zealand have joined the bracket and have made everything triply harder. And mind you, not many of them use naturalized players? Take a look at Iran. Are their players of mixed races? Nope. Do they have naturalized players on their roster? The rise of Iran as a basketball power is simply incredible. They put in a program that they have nurtured through the years. Us? Well, one of the national sports is nitpicking. And once more, many are playing that game. The funny thing is after every Asian Games or Olympics, there is this litany of finger-pointing and anger toward this and that. How we should do this and that, and not do this and not do that. Yes, it can be disappointing and exasperating. We just go again and try to solve the problems. That’s part of the game.
Filipino netters vie in Asian tilt
Rizal Memorial Coliseum out to get old glory back ISTORIC venues undergoing major renovations or facelifts will not only be utilized for the country’s hosting of the 30th Southeast Asian Games but also for future domestic and international competitions. The 30th SEA Games are set November 30 to December 11, the fourth time the country is hosting the 11-country biennial multisport competitions after 1981, 1991 and 2005. The Rizal Memorial Coliseum will be restored to its old, majestic glory under a rehabilitation program initiated by the Philippine Sports Commission (PSC) and funded by the Philippine Amusement and Gaming Corp. The entire rehabilitation program is pegged at P800 million, all Pagcor funds. “All government agencies are on the same
The Italians gave the Filipinos a glimpse of the international brand of baskeball—sweet shooting, good ball movement and suffocating defense. Guiao expects more of these from the Serbians. “Certainly it’s a big worry. Their bigs can shoot from anywhere,” he said. “If we had that problem on Italy, that’s also a problem against Serbia.” “We have a day to make adjustments,” Guiao added. “I guess we just have to gather ourselves again and be able to find additional motivations.” Serbia proved it’s one of the tournament’s contenders by toppling Angola, 105-59. Bogdan Bogdanovic had 24 points on five treys, contributing to his team’s 13 three-pointers overall. Ramon Rafael Bonilla
F MEMBERS of Team Unified Tennis Philippines (UTP)—Alexa Joy Milliam, Marielle Alexi Jarata, Exequiel Mari Jucutan and Joewyn Rey Pascua—pose with UTP General Manager Jackie Tomacruz (left), National Coach Leander Lazaro (second from right) and UTP Board Director Gerard Maronilla (right) before departing for Malaysia.
OUR young players toughened up by a series of tournaments on the local front bring their act to Malaysia this week in the Asian Tennis Federation (ATF) 14-Under Series in Kuching, Sarawak. Alexa Joy Milliam, Marielle Alexi Jarata, Exequiel Mari Jucutan and Joewyn Rey Pascua, who have dominated the Cebuana Lhuillier and Palawan Pawnshop-Palawan Express Pera Padala circuits, set out against the leading and rising players from Korea, Taiwan, Thailand, Jordan, Hong Kong, Singapore, Great Britain, Indonesia, India and from host Malaysia in the tournament.
The tournament opens on Wednesday at the Sarawak Lawn Tennis Association Tennis Center. The Unified Tennis Philippines (UTP) national junior team’s campaign is backed by Cebuana Lhuillier Micro Savings, Palawan Pawnshop-Palawan Express Pera Padala, Dunlop, Enervon, STI, Buffalo Wild Wings, Bo’s Coffee and Madison Galeries Lifestyle Mall. Another group of young UTP players, led by Sydney Enriquez and Eric Jay Tangub, will also compete in the International Tennis Federation Grade 5 tournament in Selangor from October 1 to 6.
FORMULA Two driver Anthoine Hubert dies at the Spa-Francorchamps track following a heavy crash at the F2 Belgian Grand Prix.
S
By Jerome Pugmire The Associated Press
PA-FRANCORCHAMPS, Belgium—An idyllic day for motor racing, under clear blue skies and late-summer sunshine on a picturesque track in Belgium, ended with the death of a 22-year-old French driver on Saturday. Formula Two driver Anthoine Hubert died at the Spa-Francorchamps track following a heavy crash at the F2 Belgian Grand Prix. The Frenchman lost his life at the high-speed circuit after an estimated 257 kph collision with 20-year-old US driver Juan-Manuel Correa’s car, as they accelerated uphill and then out of the notorious Eau Rouge corner on Lap 2. Hubert appeared to lose control of his car on the exit of the corner before slamming into the far-side barrier. His car flew off the tire wall and slid across the circuit before he was hit by Correa’s car. Correa is now recovering in hospital after
MOTORSPORT IN MOURNING
reportedly breaking his legs. Both Hubert’s and Correa’s cars were severed in two following the crash, with Correa’s car flipped upside down. Hubert’s car sustained a huge impact and span around violently, as did Correa’s, with debris from both cars sprayed all over the track. Medics rushed to reach them on the famed 7-kilometer tree-lined track located in the Ardennes forest of Belgium. Motorsport’s governing body FIA said Hubert “succumbed to his injuries, and passed away at 18:35” local time at the on-site medical center. As other drivers swerved around the mangled wreckage of both cars, the race was canceled a few minutes later. An F2 race scheduled here for Sunday has also been called off. Hubert raced for the British-owned Arden team run by Garry Horner, the father of Red Bull boss Christian Horner. “[It] is a reminder of just how cruel motorsport, the sport we love, can be,” Christian Horner said. “In his rookie season,
C4
Anthoine was demonstrating to be a star of the future having already won races in Monaco and France this year.” Others in the racing community quickly expressed their sadness. McLaren addressed its “heartfelt condolences to Anthoine’s family and loved ones, his colleagues at the Arden team, and the entire F2 community.” Five-time F1 champion Lewis Hamilton wrote on Instagram: “This is devastating. God rest your soul Anthoine. My prayers and thoughts are with you and your family today.” Barely two hours before the incident, Hamilton had qualified third on the same track, having crashed into protective tire barriers during the third and final practice. The French Automobile Federation said it was “in shock” after hearing of Hubert’s death. The Renault F1 team said in a statement: “Anthoine was a member of the Renault Sport Academy and raced in the FIA Formula 2 Championship, the final ladder to F1.... The Frenchman was a huge talent who also brought
Sports
| Monday, September 2, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
BusinessMirror
CREW push the car of Ferrari’s Charles Leclerc of Monaco into the garage before the qualification session at the Belgian Formula One at Spa-Francorchamps, Belgium, on Saturday. AP
Leclerc hopes to convert 3rd pole position into 1st GP win S PA-FRANCORCHAMPS, Belgium—Charles Leclerc hopes to make it third time lucky from pole position and finally give Ferrari its first win of a difficult Formula One season in the Belgian Grand Prix on Sunday. He qualified comfortably ahead of teammate Sebastian Vettel on Saturday in a dominant weekend so far for Ferrari. Leclerc beat his own leading time to finish .748 seconds clear of Vettel and .763 ahead of five-time world champion Lewis Hamilton. “It obviously feels amazing,” Leclerc said. “The gap is quite big today, but it doesn’t mean it will be like that tomorrow.” Still, it was another impressive performance from Leclerc, adding to his poles in Bahrain and Austria. He won neither race, hit by a sudden engine failure when seemingly coasting to victory in Bahrain, and then outmuscled late on at Spielberg by a rampaging Max Verstappen. Although Leclerc is in his first season with Ferrari, and only his second in F1, he leads four-time champion Vettel 3-1 in pole positions this year and has out-qualified his senior colleague in six straight races since Vettel’s pole in Canada. “I have made some changes in qualifying,” Leclerc said. “I definitely feel the difference and feel it’s going the right way.” Hamilton, F1’s record holder with 87 poles, rates Leclerc highly. “Charles did an exceptional job,” Hamilton said. “He’s been so quick all weekend.” Ferrari has looked significantly faster than Mercedes in terms of straight-line speed on F1’s longest track at 7 kilometers, placing 1-2 in all three practice sessions and all three sections of qualifying. Leclerc beat Vettel in five of those, although cooler conditions expected for Sunday’s race could negate some of Ferrari’s speed advantage. The most famed team in motorsport desperately needs
a win. Ferrari’s last was by former driver Kimi Raikkonen’s at the United States GP last October; while Vettel’s last was on this track last year. There have been 20 GPs without one since for the German driver, who has led and lost the past two F1 championships to Hamilton following clumsy errors. This time it was Hamilton making a surprisingly sloppy mistake, mangling his Mercedes when crashing under no pressure in the third and final practice earlier Saturday. Hamilton almost had another incident in qualifying when he narrowly avoided bumping into his teammate Valtteri Bottas, who starts the race from fourth on the grid. Hamilton felt he needed to apologize to his team after his rare crash. The runaway championship leader lost control coming out of the Fanges chicane, veering left at full speed into the protective tire barriers and crumpling the nose of his car. “It was a terrible session for me when you know how hard these guys work to build a car,” said Hamilton, who leads second-place Bottas by 62 points in the standings. “I was just trying to pay them back with a good qualifying session.” Hamilton later played down the mistake, saying, “You’re looking at it way too deeply...I’m only human.” But for a driver who rarely makes mistakes on any track—let alone one that was bone-dry—it was nonetheless a glaring error. That session was interrupted as Hamilton’s car was taken away. The British driver walked slowly back to the team garage and Mercedes mechanics faced a race against the clock to get the car ready for qualifying. “There’s so much pressure on these guys,” Hamilton said. “They relish the challenge [and] did an exceptional job.” The front corners—the suspension and wheel assemblies—the nose and floor all needed fixing in a little more than two hours. AP
great energy and positivity to his championship, his teams and the Renault Sport Academy. His smile and sunny personality lit up our formidable group of young drivers, who had formed tight and enduring bonds.” French driver Esteban Ocon, who has joined the Renault F1 team for next season, tweeted: “Can’t believe it, we had the same age, we started racing together and battled on track for years. All my thoughts goes to his family,” adding “Repose en paix”—or rest in peace—in French. Many other teams and drivers expressed their sympathies about Hubert, who was eighth in the championship standings. The FIA’s statement gave details of the other two drivers involved: the Ecuador-born Correa—in his rookie season—and Giuliano Alesi, the son of former F1 Ferrari driver Jean Alesi. Correa, who races for the Sauber Junior team, was said to be “in a stable condition” at Liege hospital while 19-year-old rookie Alesi was checked and
declared fit at the Spa medical center. FIA says it is investigating the fatal accident, which happened in good weather and dry track conditions. French F1 driver Jules Bianchi died in July 2015, after a head-on collision with a track-side crane at the rainsoaked Japanese GP at Suzuka in October 2014. Ferrari driver Charles Leclerc, who earlier had taken pole position at the Belgian GP for Sunday’s F1 race, was a close friend of Bianchi’s. The 21-year-old Leclerc, the 2017 F2 champion, posted a photo on Instagram of himself alongside Hubert during their junior racing days. Deaths have hit other motorsport series in recent years. British IndyCar driver Justin Wilson died in August 2015, a day after being hit on the helmet by debris from another car at Pocono Raceway. In 2011, British IndyCar driver Dan Wheldon died of a head injury at Las Vegas when his car flipped cockpit-first into the fence and his head struck a pole.
World Cup qualifying intensifies in Asia with new Fifa regulations
Q
UALIFYING games in Asia for the 2022 World Cup intensify in September with two war-affected nations unable to host home games, and with updated Fifa rules implemented to help protect players’ health and ensure match highlights are seen more widely. Yemen and Afghanistan will play their first “home” games in five-team qualifying groups in neutral countries for security reasons. Fifa said Friday that Yemen will host Saudi Arabia on September 10 in Bahrain’s national stadium, and Afghanistan will face Bangladesh in Tajikistan’s capital Dushanbe. Syria has its first “home” game in October, against Maldives, and will also host in a neutral country with the venue still to be confirmed by Fifa. The 40-team first Asian group stage will see regional powers Iran, Japan, South Korea and Australia kick off their bids to try to advance to Qatar. Action from all games—which will include the first preliminary round in Africa from Wednesday, among around 800 matches played over two-and-a-half years—should be seen by more fans globally. Fifa has updated its 2022 tournament rules from the 2018 edition, and now insists broadcast rights holders give soccer’s world body “15 minutes of action footage per match.” “Fifa shall use this footage free of charge for promotional purposes in the preliminary competition and in football worldwide,” the new rules state. Seeking to safeguard players’ health, World Cup rules now demand stricter medical checks, including for potential heart issues, before a team’s first qualifying game. The medical assessments were previously only required before the 32-team finals tournament. A concussion protocol for players sustaining head injuries is also specified in more detail. Stricter checks on players’ nationality are now made before they can be named on a team sheet. For the 2014 World Cup qualifiers, players could provide an identity card to prove who they were. For the 2018 edition, passports were needed. Tightening the demand further, Fifa now insists players produce a “valid permanent international passport” before the game for official match delegates to inspect before being selected. AP
EVERYBODY HAPPY DC United players celebrate a goal against the Montreal Impact during the first half of their Major League Soccer match on Saturday in Montreal. AP
D
Gracious God
EAR God, in Jesus You make Your home in us. With confidence we pray: Show us the way to peace, oh God. Heal divisions among Christians and other communities of faith, and give us the grace to bear Christ to the world. Uphold efforts to stop the proliferation of nuclear and chemical weapons. Help us to rid ourselves of racial stereotyping and lead us to embrace diversity. May God bless us with the peace of Christ and recreate our spirits in love by the power of the Holy Spirit. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com
Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com
Life
AND THEN SOME: NEW LINE OF LIPSTICKS SAYS ‘LOVE ME’ D4
BusinessMirror
Monday, September 2, 2019
A fun farewell to a fashion icon BY C. MENDEZ LEGASPI Photographed by Bernard Testa
A
FASHION show at a funeral parlor? Why not? No idea was too fantastic, too outrageous or too macabre if you were Eddie Baddeo. The designer, known as the “Bad Boy of Philippine Fashion,” succumbed to colorectal cancer in August after a three-year battle. He was 58. On the last night of his wake, some of his modelmuses paid him the ultimate tribute by sashaying down a makeshift runway at a chapel at Arlington Memorial Homes wearing his outlandish creations. It was Baddeo’s last wish. And, like most of his runway spectacles, it was like nothing Manila had ever seen. The unconventional show was organized by Baddeo’s muse, entrepreneur Marcott Almeda, and directed by his best friend, Raymond Villanueva. The models’ hair and makeup were done by another Baddeo frequent collaborator, Eric Maningat. The rambunctious “Tequila” served as the opening song, with models Lynn Bentsen, Joy Caralde, Krisha Almeda, Andrea Sulangi, JP Abinuman, Anne
CONTINUED ON D2
ANDREA SULANGI
JP ABINUMAN
LYNN BENTSEN
D1
D2
Style
BusinessMirror
Monday, September 2, 2019
www.businessmirror.com.ph
z
Today’s Horoscope By Eugenia Last
CELEBRITIES BORN ON THIS DAY: Zedd, 30; Salma Hayek, 53; Keanu Reeves, 55; Mark Harmon, 68. Happy Birthday: Put rigidity aside when faced with complex situations. Being able to see all sides of whatever situation you face this year will encourage change that is positive, doable and reflective of the type of leader you can be. Stand tall, set priorities and shoot for the stars. Compassion, participation and romance will result in personal growth and happiness. Your lucky numbers are 9, 14, 22, 26, 30, 32, 41.
a
ARIES (March 21-April 19): You can think big and make plans, but when it comes to taking action, size down, be reasonable and choose to spend your time and money wisely. A change may not be expected or wanted, but in hindsight, it will be beneficial. HHH
b
TAURUS (April 20-May 20): Your changing attitude may confuse some, but you’ll find solace with those heading in a similar direction. Divvy up the work that needs to be done, and you will reach a common goal and form a close bond with like-minded individuals. HHH
c
GEMINI (May 21-June 20): Don’t believe everything you hear. Someone will lead you astray to avoid owning up to a mistake or a rumor that’s traveling around your circle of friends. Keep your personal life a secret to avoid being talked about. HHHH
d
CANCER (June 21-July 22): Control your emotions. You will need a clear vision if you plan to get things done your way. Persuasive tactics will work if you have a good plan that you present with passion. Ask for help, and someone will accommodate you. HH ANNE BARKER
AVA ABEJAR
A fun farewell to a fashion icon Continued from D1 Barker, Paulette Quinto and Ava Abejar wearing pink confections. They also wore floor-sweeping gowns in bursts of color to the tune of “Can’t Take My Eyes Off You,” and Abejar closing the bittersweet display in a bridal gown to Shirley Bassey’s “This Is My Life.” Baddeo, or Tita Shawie, was a trailblazing icon for the LGBT community who lived his truth before others had the courage to do so. He was comfortable with both the male and female pronouns. As a design maverick, he was also a seismic force in the fashion world who created clothes in whatever fabric or
materials he could muster. “Marcott told me about the idea and asked me who among the other Baddeo Girls would be willing to participate in the fashion show. This was a longtime wish by Tita Shawie. So I told Marcott without a second thought that, of course, and for sure, the other sisters would do it for Tita,” Abejar said. “As this would be the last time that we could show our love and gratitude, I contacted each model and they were glad to do it for Tita Shawie, too! Lynn Bentsen, a Norway-based model who is set to produce the massive Philippine Fashion Revolution, a showcase in September by more than a hundred
KRISHA ALMEDA
e
LEO (July 23-Aug. 22): You don’t have to do what someone else is doing. Choose what works best for you. By using your skills, knowledge and experience appropriately and monitoring your spending, you will make a difference by completing what matters most. HHHH
f
VIRGO (Aug. 23-Sept. 22): Take a logical approach to situations that concern a multitude of people. You’ll stand out if you make a point to understand what everyone else is doing and needs to succeed. HHH
designers, readily agreed to do the show. “Tita Eddie was a part of my modeling career. He’s a great mentor to all of us. And to wear his creations at his wake was indeed a tribute to one of the most sought-after designers of his generation. It’s a privilege because not everyone was given such opportunity.” Baddeo was also well-loved because he loved models immensely. He was known to pamper them with food, attention and gifts. He also paid them above the standard rates. Eddie Baddeo was cremated on August 20. His black and gold urn is with Edgar Medina, his partner of 32 years. n
Abbey Sy (from left) wears the Keds Ace Leather, Reese Lansangan wears the Keds Double Decker Empower, and Gabriela Pangilinan wears the Keds Champion in Red.
h
SCORPIO (Oct. 23-Nov. 21): Put in the time and do your research to figure out the best way to incorporate positive change into your daily routine. A kind word or gesture will encourage others to be supportive. HHH
i
SAGITTARIUS (Nov. 22-Dec. 21): Listen and fact-check. Don’t expect to be offered the whole truth or both sides of a story. If you judge others, you will be judged. Avoid exaggerating, being indulgent or taking part in gossip or risky ventures. HHHH
j
CAPRICORN (Dec. 22-Jan. 19): Don’t let your emotions interfere in your progress. If there is something you want to get done, concentrate on finishing what you start. Actions will speak louder than words, and sticking to a budget will help you avoid criticism. HHH
Ladies unite in new Keds campaign IN 1916, American footwear brand Keds (www.keds. com.ph) created the first sneaker made especially for women. A hundred and three years later—through a century of giving women the voice and the footwear to take on the world—Keds is still supporting ladies all over the world with its classics and new style releases. The brand has become an icon for female empowerment and the brand has remained true to its commitment to cultivating a community of like-minded, passionate, and strong-willed women through its core of female-led team, collaborators and ambassadors. In celebration of Women’s Equality Day on August 26, Keds once again united ladies with its newest campaign and new collection. The brand hosting a brunch in the same week as
g
LIBRA (Sept. 23-Oct. 22): Do what you can to lend a helping hand. Keeping the peace will be necessary if someone tries to start an argument. Focusing on doing a good job and staying busy will deter anyone disruptive from getting in your way. HHH
Women’s Equality Day, called Ladies Unite, which featured young female trailblazers, such as singersongwriter and designer Reese Lansangan, artist Abbey Sy, and theater actress Gabriela Pangilinan, and their female empowerment stories. In time for this event, Keds also presented its newest statement sneakers, the Double Decker Empower, which now joins the brand’s modern classics and all-time favorites. Also unveiled was the Ace Leather, along with the updated classic Keds Champion. For over 100 years, generations of women have marched, danced, launched companies and won awards while wearing Keds. The brand takes pride in the fearless women who take on the world wearing Keds sneakers.
k
AQUARIUS (Jan. 20-Feb. 18): Change the way you handle your cash. Look for an additional source of income. A change will boost your morale and encourage you to look and do your very best. HHHHH
l
PISCES (Feb. 19-March 20): Stick to whatever plan you put in place. If you start bending to what people want, you will lose sight of your goal and end up going over budget. A partnership shouldn’t cause confusion or lead to regret. HHH Birthday Baby: You are patient, unique and flexible. You are industrious and energetic.
‘a matter of perspective’ by sean griffith The Universal Crossword/Edited by David Steinberg
ACROSS 1 Talent show parts 5 Involuntary movement 10 “Do Us a Flavor” chip brand 14 Move suddenly 15 Trendy “caveman” diet 16 Food, in a food fight 17 Cookie with a Golden variety 18 Lifesaving donation, perhaps 19 Humane org. 20 36-Down are here 23 Indy 500 segment 24 Object held sacred 25 Word before a maiden name 26 Deep void 28 Car floor cover 30 Superstar singer 32 36-Down are here 37 Settle in and get comfy 41 ___ 51 42 Audibly 44 You might keep them on someone 45 More secretive 47 36-Down are here 49 Signals assent
1 Narcos agcy. 5 52 Fourth prime number 55 A little lamb may follow her 57 Follower of Haile Selassie 62 The old college ___ 63 36-Down are here 66 Word after “military” or “family” 68 Closely clustered 69 Destiny 70 Sup in style 71 Info gathered by spies 72 Skin-care brand 73 Nintendo competitor 74 ___ spray (drugstore purchase) 75 Tear apart DOWN 1 Accept as one’s own 2 Monte ___ 3 Pick up the check 4 Emma of The Favourite 5 Common Dalmatian name 6 The “P” in PG 7 Rootless aquatic plants 8 Quickly heated the outside of 9 Neighbor of ND
0 ___ Vegas Aces 1 11 More than sufficiently 12 Sports centers, for short 13 Bars that produce suds 21 One may be Primetime or Daytime 22 Possess 27 Keep moist, as a turkey 29 21-Down, e.g. 31 Type of film at Sundance 32 Apple product 33 401(k) alternative 34 Get a ___ up 35 Clinton running mate 36 Person reading this clue 38 Road surface 39 Counterparts to kgs 40 Suffix in many language names 43 Like a coral reef 46 Long periods 48 Differ 50 “Hands to Myself” singer Gomez 52 Hot guys 53 Bert’s buddy 54 Competing (for) 56 Desires
8 First two parts of AFAIK 5 59 Fend (off) 60 Wyoming’s ___ Range 61 Formally change 64 Anthony Hopkins’s role in Thor 65 Organizer’s pile next to “Keep,” perhaps 67 It might be unsweetened Solution to Friday’s puzzle:
Show BusinessMirror
www.businessmirror.com.ph
Monday, September 2, 2019
D3
3rd Avenue: More than just a wedding band
N
O doubt 3rd Avenue is considered the most sought-after wedding band in the country, and it has securely stayed on that comfortable spot for many years now. Premium, pioneer, prestige, piquant, polished,
pleasant...these are some of the words thatclients have used to describe this musical group of highly passionate and committed professionals. We were quite amused the group has been rendering beautiful music to celebrate one of life’s happiest occasions for 15 years now, continuously bringing joy to couples and their loved ones through their music and gift of voice. To celebrate this milestone, 3rd Avenue has decided to come up with a special concert, billed as 3XV, at the Music Museum in Greenhills on September 26. Paolo Ledesma, one of the original members of the band, enthused, “It will be a musical narrative of the group’s journey through the years. The concert will showcase how our group evolved, highlighting the songs that helped shaped us to become the premier
wedding band in the Philippines.” Drummer Beng Gatmaitan, also a founder of the group, added, “We will also take on songs and production numbers that people, specifically those who have experienced being entertained by the group during weddings, haven’t seen us do or perform. We will incorporate both the classics and the contemporary in one show, and will traverse a musical path that even our members are looking forward to performing for this special anniversary concert.” Ledesma admitted that there were periods of hesitation after the idea of having a concert was presented. “But we felt that we have to celebrate life’s important milestones, and we all agree that it is an opportunity to give back to all the blessings that we have so abundantly received these past 15 years.”
Adonis Tabanda and company are creating a very special repertoire for this concert that will also have Morissette Amon and Jake Zyrus as special guests. “It’s our way of saying thank you to all those who have been part of the group, and everyone who went through highs and lows with us, and shared their time and presence, and special talents to bring the group to where it is now, after 15 glorious years.” Lovely lady vocalist Joy Reyes also shared, “Yes, we are a wedding band, and we are happy being dubbed as one, but we like to think we can be more than that, that we can be flexible, and be seen and heard in concerts and shows of other artists, as well. This coming concert will be a sampler of what else 3rd Avenue can be.” For ticket inquiries, call Music Museum at (02) 7210635 or visit www.ticketworld.com.ph. ■
‘Wagas’ returns as daily morning series on GMA CAN a lost love eventually find its way back? Beginning September 2, the muchloved, award-winning romance anthology Wagas will once again tug at the hearts of viewers as it returns to television, airing weekdays on GMA before Eat Bulaga. Inspiring viewers to believe in the power of true love, Wagas will now feature stories that will run for one month. For its pilot episode, multitalented actress Sunshine Dizon and Mike Tan reunite on the small screen for “Throwback Pag-ibig.” Directed by Adolf Alix Jr., “Throwback Pag-ibig” is the story of couple July (Sunshine) and Ryan (Mike) whose relationship fell apart because of a tragedy that led to the loss of the person they both love the most—their daughter
Smile (Leanne Bautista). During the years away from Ryan, July coped with her loss by striving to become a strong, independent woman. Behind July’s sunny and positive façade is a longing to see her daughter. Will she be able to reunite with her daughter? Ryan, on the other hand, has become an accomplished engineer. He once thought he had found his true love in July but after the tragedy, he blamed her for losing Smile. Seeing July only reminds him of what they both lost. Now, he is starting his life over with his current girlfriend, Amor (Regine Angeles). Fate, however, must have something up her sleeve. Just as July and Ryan are finally moving on, they discover that Smile is alive. But the good news is marred with a bitter discovery that their
daughter is sick. As Smile returns to the arms of her real parents, can she also mend the broken hearts of July and Ryan, and reunite her family? Sunshine is no stranger to Wagas, having been part of its episodes before. “Happy ako kasi malapit sa puso ko ang mga taga-GMA Public Affairs. I always enjoy working with them,” the actress said. First aired in 2013 on GMA News TV, Wagas has become a weekly routine for viewers. It won a Gold Camera Award in the Docudrama category at the 2014 US International Film and Video Festival for the love story of a man with cerebral palsy. The show also received a Finalist Certificate from the same award-giving body in 2016 for the “Gabriela and Diego Silang Story.” It recently won the Best
Drama Anthology prize at the 2019 Gawad Tanglaw. Viewers abroad can also Wagas GMA’s watch Wagas on flagship international channel, GMA Pinoy TV. For the program guide, visit www. gmapinoytv.com.
SUNSHINE DIZON, Leanne Bautista and Mike Tan star in Wagas
D4
Style
Monday, September 2, 2019
www.businessmirror.com.ph
New line of lipsticks says ‘Love Me’ N
O matter how many lipsticks I own, a new tube is always cause for excitement. I can’t even begin to tell you how often I’ve discovered that I have several open tubes of lipsticks in exactly the same color. Anyway, a month or two ago I spotted Korean girl group ITZY on the Instagram account of MAC Cosmetics Korea (@maccosmeticskorea) in what appeared to be a campaign for a new line of lipsticks called Love Me. The lipsticks made the lips look lush and moisturized and, naturally, I was intrigued. Last year, MAC Cosmetics added the Powder Kiss line to its array of lipsticks. Powder Kiss, which has a balmy texture, has a finish that can best be described as soft matte focus. The line was such a hit that the popular colors, Devoted to Chili and Mull It Over, were always sold-out. So what makes Love Me different from Powder Kiss? “The revolutionary cream formula lipstick is the next step beyond the iconic MAC mattes—representing a stunning innovation in sensation, application and wear. With a lighterthan-air texture that redefines comfort, Love Me Lipstick delivers intense color and soft shine, along with all-day moisturization in one swipe,” said MAC Cosmetics in a press release. Love Me lipsticks contain “nourishing lychee fruit extract and argan oil,” both of which help make lips more supple. The lipsticks’ “gamechanging” True-Colour Gelled System aids ultra-refined pigments to disperse evenly in a translucent gel matrix, yielding bright and smooth color with high-impact payoff. “This season, the backstage lip was nothing but lush. To get there, it’s no longer about just a single lip swipe, but rather a crafted lip— emboldening the feature by using pencils and even glosses to amplify contrast,” says Chantel Miller, New York-based MAC director of Senior Artists. “Love Me lips are the colors we have lust for—its single-swipe sex appeal plays a critical role in the lip of the season. Best used straight from the tube, on top of Prep+Prime Lip [to build that coverage in double time] and then perfectly lined and glossed.” The lipsticks are claimed to have a texture that’s lighter than air with semiopaque to opaque coverage. Beauty web site Temptalia described the Love Me lipsticks formula as “a cross between Amplified and Cremesheens, yet there was no tackiness, and the Love Me formula was much lighter and thinner [without being clingy].” The Love Me ambassadors are six people who are known for embodying self-empowerment: ■ AMBER WAGNER (@JSTLBBY, 2.1 MILLION
FOLLOWERS). Wagner is a California-based bodypositive Insta-influencer who founded the Just Livin’ Baby clothing line. She is known for her ultra-long fingernails and motivating messages of empowerment. ■ HARPER WATTERS (@THEHARPERWATTERS, 156K FOLLOWERS). Watters, a dancer for the Houston Ballet, has a YouTube channel where he is shown dancing ballet in stilettos. This has made him a role model for self-expression. ■ MAXINE ASHLEY (@MAXINEASHLEY, 52K FOLLOWERS). Ashley is a Puerto Rican, Bronxbased, genre-bending artist signed to Pharrell’s label. She writes her own music and directs her own videos. ■ RINA SAWAYAMA (@RINASONLINE, 110K FOLLOWERS). Sawayama is a critically acclaimed Japanese-British pop singer, songwriter and model. ■ FRANCES O’SULLIVAN (@BEAUTYSPOCK, 344K FOLLOWERS). O’Sullivan is a beauty influencer and transformation artist who has been called a “millennial Cindy Sherman.” ■ HALIMA (@HALIMA, 923K FOLLOWERS). Halima was the first model to wear a hijab in the Miss Minnesota USA pageant. She has appeared on the covers of Allure and British Vogue, and recently became the first model to appear in a burkini in the Sports Illustrated swimsuit Issue. There are 24 Love Me lipstick colors belonging to three color families—nudes, reds and purples. Each one costs P1,100. The collection also includes MAC Prep+Prime Lip and a lip brush. ■
Bottega Veneta introduces The Pouch CHU WONG carrying The Pouch.
THIS season, Bottega Veneta introduces The Pouch, one of creative director Daniel Lee’s first two designs for the brand. The oversized clutch features soft folds of leather, which completely envelop the rigid frame and create a voluminous, rounded form. The Pouch is available in three different types of craftsmanship and a palette that includes natural shades and saturated pop colors. The Velvet Calf Intrecciato Pouch presents Bottega Veneta’s signature intrecciato weave in extra soft calf. The Butter Calf Pouch features panels of smooth leather, while the Cocco Souple version is composed of four skins that are meticulously used to achieve continuity of the scales. The Pouch is available in a smaller version called The Pouch 20 after the measurement of its length. This exceptional small leather accessory can be easily used as an elegant mini clutch, to be held under the arm or by hand, or as a functional bag to organize small essentials. In the Philippines, Bottega Veneta is exclusively distributed by Stores Specialists Inc. (ssilife.com.ph).
BusinessMirror
www.businessmirror.com.ph
Monday, September 2, 2019 E1
Every computer science degree should require a course in cyber security
C
By Jack Cable
ompanies frequently sacrifice security for other business developments, since investing in it often yields no immediate financial benefits. But companies—and governments—cannot improve without a pipeline of talented individuals who understand how security works. software developers are incubated. While the curriculum does well at covering computer science fundamentals and hot trends, such as machine learning, security is markedly absent from the list of degree requirements. Universities should overhaul their degree requirements to make a security course standard for all students studying computer science. Such a course should teach fundamentals of building secure software, including common security pitfalls, secure coding practices and application security. Until a developer’s ability to code securely is valued as much as the ability to write a sorting algorithm, we will continue to face large-scale problems. Give software engineers the basic knowledge needed to build secure code, and the results will pay for themselves.
WWW.FREEPIK.COM | DESIGNED BY FULLVECTOR
As a security researcher who has discovered hundreds of flaws in the systems of companies and governments, I can say that the severest issues are often the simplest—an indicator that companies need to go back and review the basics. Looking through data breaches reveals a remarkable trend: In almost all cases, they stem not from sophisticated hackers’ exploiting novel vulnerabilities, but from simple errors that any well-trained eye could spot. Developers are woefully unprepared and many lack even the most basic security knowledge. As a consequence, most view security as an afterthought, an extra step that stunts otherwise speedy development. But as data breaches become the norm, this paradigm must change. Systematically addressing the problem of security begins with educating software developers at scale. As an undergraduate at Stanford, I have the opportunity to see how the next generation of computer scientists and
In 2018, Jack Cable became the youngest person to receive security clearance from the Department of Defense, through his work on government cyber-security programs.
Why ‘tell them something they don’t know’ is bad advice in b2b sales Ceos say their aim is inclusive By Frank V. Cespedes & Tracy DeCicco
O
ver the years, we’ve observed many salespeople who successfully make developing and delivering meaningful insights a core part of their approach. Their experience and our research indicate that, at a minimum, you need to do more than “tell people something they don’t know.” Instead, we suggest crafting a strategy based on whom you’re talking to and where you are in the sales cycle. In general, as one salesperson told us, “the higher you go up the chain, the more industry insights matter.” If you’re talking to a C-suite or line-of-business
executive, insights are crucial; if you’re meeting with a midlevel information technology director, you’ll probably want to spend more time on product functionality and ask more questions. When developing your strategy, keep in mind that lower-level managers are gatekeepers; their job is to vet vendors and their products. Senior-level managers, on the other hand, focus on business issues, which makes them more receptive to insights. In an early meeting with a senior buyer or influencer, it’s typically important to demonstrate that you can articulate how your product relates to key trends, opportunities, challenges or evolving best practices in that market. You can do this by
indicating who you know (people and companies using your product to drive business value and financial benefits) or what you know (your firm’s viewpoint about industry trends and the so-what implications), or both. Industry examples can be useful, too. Since adopting products and services usually requires customers to make changes to a wider usage system, they’re routinely hesitant to buy. Here, examples can provide what researchers call “social proof”: the fact that people are more likely to act when they know that others have. At later stages, senior leaders have different needs. Senior buyers often need to justify a significant purchase to others in their
organization, and they typically do so by addressing a market challenge or opportunity. Moreover, in many service, software and professional-services categories, return on investment is inherently “experiential value”— that is, the buyer doesn’t really know the nature or magnitude of the value until he experiences it in post-sale usage. Providing insights is indeed a difference maker in many buyer-seller interactions. But, as always in sales, influence is bestowed by the buyer, as well as earned by the seller.
Frank V. Cespedes is a senior lecturer at Harvard Business School. Tracy DeCicco is a director at HCL and founding principal of Konposit.
3 Ways to Help People Understand What Your Data Means
I
By Nancy Duarte
f you’re serving your organization in any kind of analytics-enabled role, you likely spend most of your days digging through data. When you uncover a statistic that feels shocking, you know you must communicate that insight to decision-makers immediately. But often, the narrative gets lost in numbers they can’t really comprehend. Though an audience may intellectually understand the measurement, they might fail to relate or connect with it emotionally. Your audience can sense scale through relatable size, known distance, a familiar
segment of time or rate of speed. Here are some strategies you can use to make the magnitude of your statistics both manageable and meaningful for your audience.
n Connect data to relatable size: Connect data to a relatable
size by comparing length, width, height, thickness or distance. But remember that for size or distance to be truly effective in making data meaningful, it has to be grounded in what’s relatable or known by your audience.
n Connect data to relatable
time: We measure time in seconds, hours, minutes, days,
© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)
months and decades, but we can create more relatable time frames by communicating work hours, flight time between cities, an episode of a sitcom or the time it takes to microwave a bag of popcorn. Time is money—and that makes it an effective way to develop scale when it comes to making meaning out of a billiondollar sum.
n Connect data to relatable things: Let’s say you have 1
million users. It’s easier for an audience to get a sense of that quantity if you compare it to the number of people who could be seated in a stadium. For example, the San Francisco Giants base-
ball field has 41,915 seats. So, if communicating this number to a Bay Area audience, you might say: “Our users would fill the San Francisco Giants stadium almost 24 times.” Data signals a problem or an opportunity. The insights are meant to move us to decisionmaking. For any audience to feel inspired to act, they need to understand the gravity of what is at stake if they don’t. We can help audiences move from making sense to making meaning by imparting a sense of scale. Nancy Duarte is a best-selling author with 30 years of CEO-ing under her belt.
prosperity. Do they mean it?
T
By Lynn S. Paine
he Business Roundtable’s (BRT) statement on corporate purpose is noteworthy both for its endorsement of inclusive prosperity as an ideal and for its rejection of maximizing shareholder returns as the sole corporate objective. However, the real significance of the statement will depend on whether—and how—it is translated into practice. As of now, there are at least four reasons to view the statement as more of a symbolic gesture than a harbinger of change in how corporate America functions. For one thing, the statement itself suggests that it is meant as an updated description of how CEOs see their job rather than a call to action. If that is the dominant interpretation among those who signed, its practical impact will certainly be limited. For another, there is no mention of changes in corporate governance or management practice to implement the new stance. Another reason to withhold judgment about the statement’s significance is the difficult issue of how the interests of various stakeholders are to be weighed and reconciled. Surely, it can’t be the case that managers should (or can) satisfy the
interests of all stakeholders all of the time. But how are those interests to be prioritized and mediated? Ethical standards defining human rights and wrongs, and prohibited harms can be helpful. Understanding how the CEO signers prioritize these interests and resolve conflicts among them is crucial for assessing the statement’s significance and likely impact. If conflicts are to be resolved through the lens of shareholder returns, any change will be modest at best. The small number of signatories from the investor community is yet another reason to take a “wait and see” attitude. So long as directors who deviate from short-term value maximization are vulnerable to removal by impatient shareholders, they will be understandably reluctant to take the kinds of actions implied by the BRT statement and needed to achieve the inclusive prosperity it espouses. If the BRT (or any other group) is serious about inclusive prosperity, sustainable capitalism or any other significant change in how America does business, these are a few of the many issues that will have to be tackled. Lynn S. Paine is a professor of business administration at Harvard Business School.
Education BusinessMirror
E2 Monday, September 2, 2019
www.businessmirror.com.ph
RP ranks 6 among the highest in the world; BM’s Tumampos among the scholars
66 Filipinos get Erasmus+ Scholarships
S
IXTY-SIX Filipino students will pursue their academic dreams in several countries of the European Union in the coming weeks after they won scholarships under the EU’s Erasmus+ Program. The Erasmus+ Program will allow them to pursue MA programs in different universities across the European continent. The scholarship is structured to allow students to pursue their studies in more than one country, giving them the opportunity to benefit from the academic expertise and culture of more than one university. European Union (EU) Ambassador to the Philippines Franz Jessen announced that the Philippines ranks sixth globally among the countries with the highest number of scholars. Jessen congratulated the Erasmus+ students and urged them to become ambassadors of goodwill and agents of change to help strengthen the partnership between the EU and the Philippines. He also encouraged the Erasmus+ scholars to give back to their country after they finish their program in the EU. Stephanie Tumampos, BusinessMirror’s photojournalist and Science reporter, is among this year’s Erasmus+ scholars. A Bachelor of Science in Applied Physics with a Masters in Environmental Engineering from the University of the Philippines, Tumampos will take her Copernicus Master in Digital Earth at the University of Salzburg in Austria
and University of South Brittany, and the Placky University Olomouc in Czech Republic. Tumampos said her course is on utilizing the data obtained by the Copernicus satellite system of the EU by doing GeoData Science, as well as GeoVisualization and GeoCommunication. “We will be using and analyzing data provided by the Copernicus Earth observation system to provide information, basis and support for better management decisions here on Earth,” Tumampos said. She added her project will focus on the water pollution in the Philippines. “Our only planet is currently suffering from all the bad decisions humans have done. The impact of these decisions, and the remaining resources need to be quantified, visualized and translated to information for leaders and all humans to understand what is going on on Earth. “Are we going to have a shortage of our resources in the next decade? Are we going to consume fish that are contaminated with pollution [plastic, human and solid waste or chemicals]? Where do our waste go? How much of our forests are remaining and how much more oxygen can it produce and provide the demand of a growing human population?”
European Union Ambassador to the Philippines Franz Jessen (center, back) with the 66 Filipino recipients of EU Erasmus+ Program, including BusinessMirror’s Stephanie Tumampos, and EU delegation staff.
She said these questions have always lingered in her head. “As a graduate in BS Applied Physics and Masters in Environmental Engineering, who has been exposed to the theories and applications of space science, I realized I can merge the things I learned from both courses. When I learned about the newly offered Erasmus+ Program on European Copernicus Master in Digital Earth which will use data from the Copernicus satellite system of the EU, I thought it was the perfect degree to apply the skills I have learned, and further enhance them through the courses I will take in the universities involved by the mobility program.” She said there is a need to further support better decisionmaking in managing the country’s resources through information and data. “I hope my research will help my country move forward to better management decisions and secure our future,” Tumampos added.
Ayee Macaraig, an incoming Erasmus Master in Journalism, Media and Globalization student, said, “The Erasmus Mundus scholarship offers not just academic excellence but also an international, multicultural perspective. It is a ticket to understanding other cultures while rediscovering our own. “I’m thrilled about representing my country in Europe. I believe there is immense value in discovering new cultures, appreciating similarities and differences, and respecting diversity.” M ac a r a ig w i l l f i rst st udy in Aarhus University and the Danish School of Media and Journalism in Denmark, and then in the University of Amsterdam, The Netherlands. Meanwhile, Jayson Gabriel D. Pinza, incoming student of Joint Master Degree in Groundwater and Global Change, said, “I decided to pursue JMD GroundwatCH because I have wanted to learn new and updated knowledge, skills, and techniques in
hydrogeology, which I plan to bring here in my home country [the Philippines]. “As an aspiring hydrogeologist, I plan to use what I have learned to contribute in solving rampant and relevant issues in hydrogeology in the country. As a passionate teacher, I also wish to impart what I have learned to future aspiring Filipino hydrogeologists. With these, as a former scholar of my country for eight years, I hope that I would be able to give back to my country and serve the nation well in my own way.” Jayson is going to study in t hree i nst it ut ions: Inst it uto Superior Técnico, Universidade de Lisboa in Portugal, Stichting IHE Delft Institute for Water Education in the Netherlands, and Technische Universität Dresden in Germany. The program gives life-changing opportunities for Filipino students to experience living the European culture, learning European languages and being integrated into the European so-
ciety for one to two years. The Erasmus+ program promotes the EU as a center of excellence in learning and making student mobility a reality for EU and non-EU citizens alike. Jessen also cited the efforts of the Erasmus alumni, led by Kate Ramil who has initiated the Campus Erasmus to further promote the scholarship and mobility program in the country and in other regions. The EU delegation in the Philippines in collaboration with the Erasmus alumni has also been holding information sessions to promote the Erasmus+ program, as well as the European Higher Education Fairs. The next European Higher Education Fair is scheduled on October 26 at the Shangri-La Plaza in Mandaluyong. The Erasmus+ is among the leading international academic mobility programs in the world, and students from the Philippines have benefited considerably from the program.
DepEd open to Israel’s pitch to include TELUS International Phl supports Adat B’laan Holocaust story in PHL curriculum
A
By Claudeth mocon-Ciriaco Correspondent
W
ILL the Holocaust story find its way into the pages of our history books? Education Secretary Leonor Magtolis Briones may accede to the proposal of Israel’s Ambassador to the Philippines Rafael Harpaz, after the latter paid a courtesy call on August 14 to discuss prospective areas of partnership in education. Harpaz made the suggestion since, according to him, “not all Filipinos know about it.” “This [proposal] is very timely, because right now, the Department of Education [DepEd] is in the process of reviewing the curriculum. I quite agree that the history books were heavily influenced by the American [narrative], and this is a neglected aspect,” Briones explained, as she acknowledged the dearth of information about the dark part of the 1900s. “It is only our generation and certain sectors, including Jewish families in the Philippines, who know about the story of former President Manuel L. Quezon’s humanitarian act,” the DepEd secretary said. She was referring to the “Open Door” policy of Quezon that allowed the entry of Jewish families fleeing the Holocaust. The DepEd chief added: “It is ironic that many Filipinos know about the Holocaust not only from books, [their classes] and from films, as well, because there are many beautiful [ones] with the Holocaust as the theme, but not [everyone is] aware of what Quezon did.”
Education Secretary Leonor Magtolis Briones (right) and Israel’s Ambassador to the Philippines Rafael Harpaz at the Department of Education. According to Harpaz, the inclusion of Quezon’s decisive act during the Holocaust should contain details of the invaluable support that the Philippine government then had extended to the Israelis. He pointed out that under the administration of the Commonwealth president, the Philippines was the only nation in Asia that accepted Jewish refugees before World War II erupted. In the 1930s, the country welcomed more than 1,300 Jewish refugees. They resided in Marikina, where Quezon gave a portion of his property to serve as their home. The education chief, likewise, emphasized the values of hospitality and kindness to foreign nationals, as these are inherent traits of Filipinos. “I always cite this incident in my speeches to illustrate the welcoming [character of our countrymen], because we also did it in the case of
Vietnam. It is [innate in us] to welcome those who approach us,” she said. Other areas tackled during the meeting included distance education, training, technologies, DepEd’s challenges and the “L ast Mile” schools. For Israel’s part, the ambassador proposed to involve its private sector, particularly Yad Vashem, which is tasked to uphold the memorial of the victims of the Holocaust, so that the training of trainers will be easily facilitated. Also present in the meeting were DepEd’s Officer in Charge-Assistant Secretary for Curriculum and Instruction Alma Ruby Torio, International Cooperation Office Director Margarita Consolacion Ballesteros, Bureau of Curriculum Development Director Jocelyn Andaya, Embassy of Israel in Manila’s Deputy Chief of Mission Yulia Rachinsky-Spivakov and Mashav Officer Gladys Baniqued.
S the youth of Adat B’laan, an indigenous group in South Cotabato, get more exposed to and enjoy the benefits of modernization, embracing mainstream society practices has sometimes edged out knowing and understanding their ethnic language, rituals and traditions. In the past few years, this has led to the cultural erosion of the Adat B’laan. Team members at the leading Businessprocess outsourcing (BPO) and digital solutions firm Telus International Philippines (TIP) learned of the Adat B’laan situation through a funding proposal submitted by the Geochris Foundation to Telus International Philippines’s Community Board and decided to help. The Telus International Philippines Community Board awarded Geochris and the Adat B’laan community a P455,396 grant ($8,464) to finance programs to revive cultural awareness among the Adat B’laan youth. Geochris Foundation is a nonprofit organization that believes in holistic education, cultural invigoration, and sustainable living for indigenous communities in Abra, Palawan and South Cotabato. It helped the Adat B’laan draft their grant application to the Telus International Philippines Community Board. The Telus International Philippines Community Board, the firm’s grant-giving foundation, looks for worthy causes and innovative ideas that support communities with unique needs in the areas of health, environment and education. It distributes approximately P5.1 million ($100,000) every year. With the funding, community elders formed the Adat B’laan Cultural Group and developed learning modules on traditional musical skills like malem (summoning chant), flalok (native lullaby), faglung (lute), tambol (drum beat), and salmagi (gong), ritual and worship dances, and lit-
erature. Leveraging the modules, the elders cascaded the knowledge to the younger members of the community through Saturday learning sessions. Carlo Tio Casi, one of the Adat B’laan youths who initially felt disconnected from his community’s culture, joined 164 other participants in the learning sessions. Carlo now looks forward to the weekend to steep himself in their native customs and traditions. “Relearning our culture helped me and the other participants become prouder of our heritage as a community. Through the project, we can protect our future even when our ancestors have passed on,” said Carlo. Apart from offering learning modules, the Adat B’laan aims to widen the reach of their culture and establish partnerships with private and government stakeholders. They have also expanded their offerings to service research, cultural shows, and exchanges, in the process generating income for the community through cultural tourism. The project was instrumental in unifying the different B’laan communities from different barangays in Tupi. “Serving ethnic communities is the core
of our work at Geochris Foundation. We are glad to have partners that champions youth formation and cultural preservation to help sustain these communities,” said Marcela Octaviano, Geochris Foundation executive director. Since it started operations in 2012, the Telus International Philippines Community Board has donated over P35.7 million at current rates ($700,000) to 79 advocacy projects and programs like constructing the science laboratory with GreenEarth Heritage Foundation at Sitio Malapad na Parang in San Miguel, Bulacan; writing for the Web training for persons with disabilities with Adaptive Technology for Rehabilitation, Integration and Empowerment of the Visually Impaired; and the “Plastic Mo, Kinabukasan Ko” (Classroom in a Bottle) Project at San Agustin Elementary School in Magalang, Pampanga, with Kapampangan Manalakaran Inc. “Through our Community Board, our presence is felt not just in the BPO and digital solutions sector but also in the communities across the country that are in need,” said Telus International Philippines Corporate Social Responsibility Manager Phoebe Carrera.
Marketing BusinessMirror
www.businessmirror.com.ph
Monday, September 2, 2019 E3
A ‘Wow at Saya’ customer experience A
PR Matters
By Kane Errol C. Choa
Film: Director Makoto Shinkai does it again with the stunning ‘Weathering With You’
If there is anything that we humans have absolutely no control over, it’s the weather. This past March, most of Metro Manila even had a water crisis of sorts due to water in La Mesa Dam reaching critical levels. It was reported that the only way to fix this was for two tropical storms to replenish the water. Imagine how strange that sounds, particularly since we cringe at the thought of strong rains annually. Imagine then what you could do if you could control the weather. With a mere wish or prayer, you could make the rain stop and the sun would come out. That is one of the premises behind the latest masterpiece of Director Makoto Shinkai, Weathering with You. Tokyo has had seemingly nonstop rain for weeks. Sixteen-year-old Hodaka Morishima (Kotaro Daigo) ran away from his tiny village to get to the big city, but he’s having a hard time finding work. Hodaka sometimes sleeps on street corners and barely has money to eat. He befriends a man named Keisuke Suga (Shun Oguri) who gives Hodaka his business card, but the young man thinks nothing of it. On one of those lonely nights that he is alone for dinner, one of the staff, a
S part of her rewards incentive to her employees every year, businesswoman Elizabeth “Beth” Ong decided to book them for Showtime Experience (XP), which includes a tour of ABS-CBN studios, live viewing of noontime show It’s Showtime, and a meetand-greet opportunity with available stars. It was not a difficult decision for Beth, a Kapamilya fan who starts her day with Umagang Kay Ganda and ends with Bandila. She also knows her staff, who are also avid viewers of ABS-CBN shows and fans of Kapamilya artists. “Watching It’s Showtime live has always been my dream. It’s a different experience. Vice Ganda makes me happy, and I also wanted to see Anne Curtis and Vhong Navarro in person,” she said. Like Beth, many Filipinos welcome ABS-CBN into their homes every day through the shows they watch on television or iWant, and feel the joy and happiness that celebrities bring through live entertainment. They relate to the characters’ aspirations, hopes, and struggles in different teleseryes and follow their journeys in facing life’s challenges. They cheer and root for the talented Filipinos in talent-reality competitions who want to reach their dreams and build better lives for their families. For many of these viewers, watching their favorite shows live and seeing their favorite stars in person is a big dream. It is not uncommon to see studio audience members in It’s Showtime to express their happiness upon seeing Vice Ganda or Anne Curtis and ask for a chance to hug them.
girl named Hina Amano (Nana Mori) gives Hodaka a free meal out of pity. Eventually, Hodaka contacts Suga and begins working for his small publishing company that specializes in stories about urban legends. One of the urban legends that Hodaka and Suga’s niece Natsumi (Tsubasa Honda) learn about is the “sunshine girl,” a girl who can control the weather with but a wish. Days go by and Hodaka sees Hina being dragged by a club owner to join him. He saves her and is amazed when Hina shows that she has the ability to clear the skies by praying. Inspired by the sunshine girl urban legend, Hodaka convinces Hina that they can make a profit out of her abilities and she agrees. It turns out that she’s been living alone in Tokyo with her little brother Nagi (Sakura Kiryu) since their mother passed away. As Hina and Hodaka take on more and more jobs (clear skies for someone’s wedding, no rain for a few hours so the kids can play outside, bring out the sun for my late husband’s spirit to visit me, etc.) word spreads about their business and the two get closer. Meanwhile, Suga and Natsumi investigate more on the urban legend of the sunshine girl and meet a priest who warns them that the more the sunshine girl uses her ability, the higher the risk of something bad happening to her. Apparently, it is inherent in that ability for the girl to eventually sacrifice herself in order for the nonstop rain in Tokyo to finally come to an end. When police come to Hina’s apartment looking for Hodaka,
So when it is the viewers' turn to visit ABS-CBN for a studio tour or watch a live show, the TV network rolls out a red carpet to make it a memorable experience for them. In ABS-CBN, the customer experience program is called “Wow at Saya,” which the company takes to heart in hopes of “wowing” its studio audiences and achieve the desired response of Ang saya! For studio audiences, their journey begins when they book online via Kapamilya Tickets (ktx.abs-cbn.com). The ease of navigating the site is an important first step. Information must also be complete, available and understandable. Links must work to give a seamless online experience for customers. Upon arrival at the studio entrance, they are welcomed and led to the Kapamilya Audience Lounge, an airconditioned facility that can accommodate up to 400 people. Those who booked studio tours get to see the broadcast facilities, the sets of their favorite shows, and the radio booths of DZMM Radyo Patrol 630 and MOR 101.9 where Kapamilya broadcasters and DJs are onboard. At the Kapamilya Audience Lounge, the staff of It’s Showtime treats the audiences with a short and engaging program hosted by former Miss Q & A semifinalist Brenda Mage. They get to win prizes if they participate in games and take selfies or groufies at the photo walls. TV monitors are set up so they can also watch their favorite shows on ABS-CBN, S+A, YeY, Cine Mo and DZMM TeleRadyo channels. The program, which was formulated in 2015, has
she not only learns that his parents have filed a missing persons report for their son, a social worker will also be sent to take Nagi away because they’re both minors with no legal guardian. Hodaka convinces Hina and Nagi to run away with him, but how long can they escape the police and how long can Hodaka keep himself from telling Hina how he feels about her? Known in Japan as Tenki no Ko or Child of Weather, Weathering with You is yet another beautiful film from the mind of Shinkai. Following the huge success that was 2016’s Your Name (Kimi no na wa), it would seem that the director has cornered the animated film market on creating beautifully animated motion pictures with a unique premise, very likeable young protagonists, and a near-impossible situation that keeps those same protagonists apart. Hodaka is shown as a nervous, unsure teen who is barely making ends meet after running away from his parents and their small village. On the opposite end of the spectrum is Hina, a confident young lady who keeps finding a way to care for herself and her little brother when their mother suddenly passed away. By adding the urban legend of the sunshine girl, a little bit of magic is sprinkled onto those rainy Tokyo streets, and boy, does it ever rain in this movie. It felt like 90 percent of the film had rain falling either indoors or outdoors, and the buildings and streets of Tokyo are beautifully rendered as it is submerged by the deluge.
consistently earned positive feedback and achieved a 97-percent net satisfaction rating from delighted studio audiences. Aside from surveys, unannounced visits by “mystery audiences” are done to audit the experience and check if the “Wow at Saya” program is carried out effectively and efficiently. The audience-centric “Wow at Saya” program has been recognized thrice with awards of excellence in customer relations from the international Gold Quill Awards held in Canada, the AsiaPacific Silver Quill Awards held in Australia and the Philippine Quill Awards here in Manila. The awards were given by the International Association of Business Communicators and its chapters in Asia-Pacific and the Philippines. The awards are an affirmation of the things done right for the customers. After watching It’s Showtime, Beth said, “It was worth the trip. We woke up at 3 a.m. and traveled from Nueva Ecija. We are very happy with the experience.” Her companion, Renelyn Corros, could not find words to explain her experience. “Sobrang saya na naranasan namin ito. Kasi pangarap namin ito na manood nang live.” For Elizabeth Buenafe, it was a dream come true to see Vhong
Navarro and Vice Ganda. She said, “Sobrang saya na hindi ko ma-explain na sa wakas, nakanood ako nang live. Araw-araw talaga ako nanonood ng 'It’s Showtime.' Iba yung experience kumpara sa panonood sa TV lang.” Beth’s and her group’s experiences were later shared on social media. Beth’s photos with celebrities got more than 100 likes and comments within hours from family and friends. Just imagine the ripple effect of a single post—positive or negative. People find testimonials within their circles as credible. It can sway their opinion about a product, service or person. When a positive story goes viral, it can do wonders for companies. And a negative one, even in only a few hours, can do so much damage to the reputation that one has built and protected so hard for years. Customers today are vocal about their experiences. Armed with smartphones, consumers can take photos or videos to document pleasant or unpleasant incidents. In 2017, a video showing an airline passenger being forcibly dragged off his flight made headlines around the world and cost the company its reputation, share price and customers. People read the comments of past travelers before booking a
place via AirBNB, look for reviews before trying a new restaurant and seek feedback from other customers on TripAdvisor on places to visit. Companies nowadays actively monitor and respond to customers’ feedback because they know a single post can potentially make or break them. Customers become their ambassadors and their experiences can be amplified on social media. So it is important for companies today to look at their customers’ experience because their words can be their best PR tool or their worst PR nightmare. PR Matters is a roundtable column by members of the local chapter of the United Kingdombased International Public Relations Association (Ipra), the world’s premier association for senior communications professionals around the world. Kane Errol C. Choa is the vice president and head of Integrated Corporate Communications of ABSCBN Corp. He spent more than two decades of work experience in corporate communications, political PR and broadcast journalism. PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.
Perspective BusinessMirror
E4 Monday, September 2, 2019
www.businessmirror.com.ph
WHY INCREASING ARAB-ISRAELI CLOSENESS MATTERS
THE Gulf of Aqaba (Jordan) or Gulf of Eilat (Israel) at the northern tip of the Red Sea, east of the Sinai Peninsula and west of the Arabian mainland. Its coastline is divided between four countries: Egypt, Israel, Jordan and Saudi Arabia. GORSHKOV13 | DREAMSTIME.COM
By David Mednicoff | University of Massachusetts Amherst
W
THE CONVERSATION
HILE the connection of Jews to Israel is frequently in the news, the changing nature of Jewish and Israeli links to Arab countries is a story that has shown up less frequently. Yet that change is significant and noteworthy. A new synagogue recently opened in Dubai, the first in decades. Jared Kushner, an observant Jew and a top adviser to his fatherin-law, President Donald Trump, is close friends with the acting ruler of Saudi Arabia. The foreign minister of Bahrain, a Gulf Arab country, gave an interview to Israeli media, highlighting the important role that Israel has in the contemporary Middle East. This is a shift in official Arab postures toward Jews and Israel. Since Israeli independence in 1948, the country’s presence in the region and dominion over Palestinian Arabs have fostered four major wars with Arab neighboring countries. Israel has only slowly achieved formal peace and diplomatic relations with Egypt, in 1979, and Jordan in 1994. Why do more Arab states suddenly seem much warmer toward
Israel, and, perhaps, by extension, to Jews and Judaism more generally? There is both a simple and a complex answer here. The simple answer is Iran. The more complex one is that Israel, Arab states and the US have found increasing common priorities of national security and strong authority.
A brief history of Arab-Israeli relations
FROM the advent of Islam into the 20th century, Jewish communities existed and often thrived across the Arab world. The founding of the state of Israel changed this quickly. Viewed by most Arabs as an unjust postcolonial incursion of Europeans into a newly decolonized Middle East, Israel found itself attacked when its statehood began. It didn’t help that the emerging country’s military forces, and Arab leaders as well, pushed many Palestinian Arabs to leave their homes for other Arab states.
Given Arab states’ hostility to Israel, Jews in these countries mostly fled to Europe, Israel and the US. The influence of strong regional Arab identity and support for Palestinian Arabs in a charged Cold War global climate encouraged further Arab-Israeli wars in 1956, 1967 and 1973. The 1967 war gave Israel direct control of Palestinian territories, further angering Arab leaders. In 1973, Arab oil producers used the “oil weapon,” stopping oil sales to the US to pressure it to decrease its consistent support of Israel. To be sure, the depth of Arab enmity toward Israel varied by country. Complex, cooperative links have nevertheless existed unofficially, such as economic ties between Arab Gulf states and Israel. Still, after Egypt signed a peace treaty with Israel in 1979, it took another 15 years until a second Arab state, Jordan, established diplomatic relations with Israel. While Israel’s peace treaties with both Egypt and Jordan have remained intact for decades, relations have been mostly chilly, and no other Arab state has followed their lead.
Changing times and Saudi power
NOW there are growing signs of at least informal relations between Israel and many other Arab states. The driver for much of this is Saudi Arabia, and its enmity toward Iran. In recent years, the Saudi gov-
ernment has attempted to become the Arab world’s major power by using its economic clout, in a reaction to its own and neighboring states’ insecurity in the wake of the 2011 uprisings around the Arab world. As part of this strategy, the Saudi government has intensified its long-term enmity toward Iran. Since its 1979 Islamic Revolution, Iran has been a vocal political force for Shi’i Islam, the major form of Islam distinct from Sunni Islam. Sunni Islam is the majority form of Islam which most Arabs embrace and the Saudis aspire to lead. Under its crown prince and actual day-to-day ruler, Prince Mohammed bin Salman, Saudi Arabia has pursued its efforts to be the dominant Sunni Arab power more aggressively. This includes its military engagement in Yemen, where it has tried with limited success to eradicate local Shi’i forces that have some ties to Iran. Forceful Saudi foreign policy under Salman has also included isolating rival Qatar, allying closely with Egypt’s military ruler Abdel Fattah el-Sisi and increasing its already huge advanced weapons purchases. All of this is meant to both cement Saudi influence and cripple Iran. But the Saudi strategy has had mixed success. The war in Yemen has bogged down, forcing Saudi ally, the United Arab Emirates, to pull back. Salman faces blowback from civil-rights advocates for increasing Saudi crackdowns on political dissidents.
His limited success has given Salman all the more reason to stress alliances with like-minded rulers in the region. In addition to stalwart allies the UAE and Egypt, this definitely includes Israel. Indeed, Prime Minister Benjamin Netanyahu and Salman rival one another in their public enmity toward Iran.
New security alliance
SAUDI Arabia’s increasing efforts to be the dominant Arab power in the Middle East are part of another trend in the region: the consolidation of states that focus on security at the expense of democratic rights. The lesson many Arab governments seem to have drawn from 2011’s Arab Spring unrest is that dissent, and even open political expression, can mushroom into political collapse and chaos. Determined to avoid political challenge, most Arab political systems have amplified their already strong investment in internal security and cracked down on political speech. At the same time, many Arab societies, including Saudi Arabia and the UAE, have made efforts to be more open to social diversity. There has been modest progress in gender rights in Saudi Arabia and increased tolerance of religious pluralism in Dubai, for example. Strong security, limited official acceptance of political dissent and social pluralism also help align electoral democracies under stress
with non-democratic governments. This is a current trend evident in the closeness of leaders like Trump and more repressive rulers like Vladimir Putin of Russia or Viktor Orban of Hungary. It is no less of a trend in the Middle East. The approach of boosting military and police power and decreasing tolerance towards political opposition brings countries like Saudi Arabia and Israel naturally together. Indeed, if Arab governments stress security to stave off fears of political uprising, they are likely to see Palestinians with little power under direct or indirect Israeli control as a problem to sidestep, rather than a priority to resolve. In short, the threat of Iran and the prevalence of anti-democratic politics is solidifying a long-standing political affinity, and a growing behind-the-scenes alliance, between Israel, Saudi Arabia and Saudi Arabia’s Arab allies. Arab-Israeli increasing collaboration may be good news for some Jews wishing to be more secure as visitors or residents in Arab countries. Yet the news is likely less good for people hoping for greater political rights for Palestinians, Yemenis and other beleaguered populations in the Middle East. This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation. com/why-increasing-arab-israeli-closenessmatters-119691.