BusinessMirror September 04, 2019 by BusinessMirror

BUY LOCAL RICE, GOVT AGENCIES TOLD By Butch Fernandez @butchfBM

& Cai U. Ordinario @caiordinario

S SEN. Cynthia Villar (right), Committee on Agriculture and Food chief, questions Neda Assistant Secretary Mercedita Sombilla at Tuesday’s (September 3) public hearing on the impact of the rice trade liberalization law on the farm-gate price of palay and retail price of rice. 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

EN. Francis N. Pangilinan pressed the alarm button Tuesday following reports that palay prices fell to as low as P7 per kilogram in some areas and prodded the Duterte administration to “act as equalizer.” Pangilinan also urged the President to implement the Sagip Saka Law, which will allow farmers’ and fishers’ organizations to enter into negotiated purchases with local government units and national government agencies. “As Filipino rice farmers suffer from

plummeting selling prices of palay [unhusked rice], the government to act as equalizer and implement the Sagip Saka Law immediately,” he said in Filipino. A former food security secretary in the previous administration, Pangilinan noted that the Sagip Saka Law “exempts local governments and national agencies from the Procurement Law and allows them to directly buy” from farmers’ and fishers’ organizations for their feeding program, their employees’ rice allowance, and their food-for-work programs. For instance, the senator said, local governments provide rice allowance usually in the form of cash. These can consider 20 percent of this allowance in

the form of rice. “Rice should be bought from local farmers. That is additional support for our farmers. The purchase of rice at a negotiated price will ensure that farmers will not incur losses,” he said. Pangilinan said farmers and farmerrights advocates told senators at the hearing that buying prices for palay dropped to as low as P7 per kg to P8 per kg, much lower than the production cost of P12 per kg. He also recalled Romeo Royandoyan of Centro Saka expressing shock over the data of the Philippine Statistics Authority (PSA), which indicated that the farm-gate price of palay was at P17 per kg. See “Rice,” A2

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Wednesday, September 4, 2019 Vol. 14 No. 329

‘Citira could dilute gains from US labor policies’

By Elijah Felice E. Rosales

@alyasjah

HE information-technology and business-process management (ITBPM) industry is seen to benefit from the threat of higher labor cost in the United States, but the looming rationalization of fiscal incentives could neutralize that gain, a business leader said on Tuesday. IT and Business Process Association of the Philippines (Ibpap) President Rey E. Untal said there is less concern today on the United State’s protectionist policies as there was at the beginning of the Trump administration. He argued

the IT-BPM industry weathered the protectionist storm that hit it hard in 2017, and is now looking at gaining from the fallout of a higher labor cost in the US, where there are mounting calls for a $15 minimum wage.

However, he admitted fears of capital flight and loss of jobs continue to haunt the industry, as IT-BPM firms hold their breath in anticipation of an overhaul in the incentives regime. “The uncertainty on fiscal re-

$15

Minimum wage being sought at various levels across the US. The IT-BPM sector is looking to gain from the fallout of a higher labor cost in the US, but frets that the looming tax perks overhaul could negate this form is still there. The protectionist policy is becoming less and less an issue. In fact, there are movements in the US where the minimum wage is being pushed at the federal level, not only on the state level. See “Citira,” A2

July M3 grows 6.7% on demand for credit

See “M3,” A8

PESO EXCHANGE RATES n

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

The obedience of His creation: Eidul Adha Teddy Locsin Jr.

FREE FIRE Speech delivered by Foreign Affairs Secretary Teodoro L. Locsin Jr. at the DFA Eidul Adha reception, DFA Lobby, August 16, 2019.

IDUL Adha or the Feast of Sacrifice has been celebrated as a national holiday in the Philippines since it was mandated by law in 2009. The law recognizes the significance of Eidul Adha in paying homage to the trials and triumphs of the Prophet Abraham; known to all the religions of the Book as “the father of many nations.” It commemorates his supreme act of sacrifice and signifies the obedience owed to the Almighty by the fact of our creation at His hands. Continued on A6

‘Reinstating slashed budgets to cost ₧90B’

CLEANUP Employees of AllHome organized a cleanup drive at the Las Piñas-Parañaque Critical Habitat & Eco-Tourism Area on Tuesday in a bid to prevent disasters caused by floods in the area. By educating employees on the importance of looking after the environment, AllHome said it hopes they will make choices that conserve the environment. NONIE REYES

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By Jovee Marie N. dela Cruz

HE growth of cash circulating in the local economy ticked slightly faster in July this year, but was still in the low single-digit pace during the month. Data from the Bangko Sentral ng Pilipinas (BSP) showed domestic liquidity—broadly measured as M3 —grew 6.7 percent in July this year from its level in the previous year. It was, however, slightly below the 6.9-percent average M3 growth of the country in the first half of the year and below the 11.1-percent growth seen in the same period last year. A growing cash supply is often beneficial for an expanding economy such as the Philippines,

2018 EJAP JOURNALISM AWARDS

@joveemarie

HE chairman of the House Committee on Appropriations said on Tuesday the lower chamber will not accommodate in the 2020 national budget the requests of lawmakers whose districts’ budgets were slashed and vetoed in this year’s General Appropriations Act. In an interview, Davao City Rep. Isidro Ungab said lawmakers are appealing for an increase in their districts’ budget for 2020 following the budget cuts in their 2019 budget. “I sympathize with them, I understand what they want, but the amount is too big and it would be difficult to include [their requests] in the 2020 national budget,” he said. “That was brought up during the budget of the Department of Public Works and Highways [DPWH]. I truly understand their sentiments. I studied what happened...those that were slashed during [2019] budget

preparations in the House and [the projects that have been affected by the presidential] veto,” he added, in a mix of English and Filipino. According to Ungab, P70 billion to as much as P90 billion is needed to accommodate the lawmakers’ requests. “P70 billion to P90 billion. It is very hard to put it now. I have to explain to them because if you include all of that now, you will be reducing [the budget of agencies]. I appealed to them, I told those who approached me to please understand and let’s exclude those for the meantime from 2020,” Ungab said, adding, “because it will really hurt the operations of the departments.” Ungab said the committee will seek a meeting with the Department of Budget and Management (DBM) and the DPWH to address the concerns of lawmakers. “So we start from there and we look at the possible solutions, possible funding, but not in this budget,” Ungab added.

US 52.1360 n JAPAN 0.4909 n UK 62.9282 n HK 6.6484 n CHINA 7.2697 n SINGAPORE 37.4783 n AUSTRALIA 34.9989 n EU 57.1932 n SAUDI ARABIA 13.9014

See “Budget,” A2

Source: BSP (3 September 2019 )

News

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DTI imposes ₧10 safeguard duty on cement

By Elijah Felice E. Rosales

@alyasjah

HE government has imposed a definitive safeguard duty of P10 per 40 kilogram bag on cement, nearly P2 higher than the previous rate imposed on imports.

Trade Secretary Ramon M. Lopez on Tuesday decided to place a tariff of P250 per metric ton, or P10 per bag, on cement. The rate is almost midway between the provisional duty of P210 per MT and the Tariff Commission’s recommendation of P297 per MT. The safeguard duty will then go down to P225 per MT, or P9 per bag, on the second year and will further slide to P200 per MT, or P8 per bag,

on the third year. Lopez argued he chose to apply a middle-ground rate to protect the welfare of consumers and the interest of the domestic industry. He said the P10 per bag tariff is enough to safeguard local manufacturers from imports and compel them to stay competitive at the same time. “Basically, the rationale for the safeguard level is to balance national interest, minimizing the impact

to prices for buyers and users while addressing the industry injury issue, and yet still encouraging local manufacturers to continuously pursue inefficiencies to be more globally competitive,” Lopez said in a text message to reporters. According to Lopez, the definitive rate will be enforced 15 days after the publication of the order in a national newspaper. While the safeguard duty is in place, the domestic industry is directed to comply with its adjustment plan listing their steps to keep up with cheaper priced imports. In applying the P10 per bag safeguard duty, Lopez rejected the recommendation of the Tariff Commission to place a higher tariff of P12 per bag on cement. Implementing a safeguard duty of P12 per bag on cement will consequently result in prices of imports

₧12

The safeguard duty recommended by the Tariff Commission. The DTI said this rate will jack up prices of imports, leaving consumers with no other option but to buy cement produced locally. going higher. This could leave consumers with no other option but to resort to buying cement produced locally. As a balancing act, Lopez earlier said the government will not come up with a suggested retail price (SRP) on cement for the purpose of managing prices. The Tariff Commission in August upheld the government’s find-

Peace. . .

Continued from A8

The Iranun corridor is the only area in Bangsamoro that was not penetrated by extremists and where conflict-related violence is still low. She said part of the success of the Iranun corridor in peace and development is the strategy of the military, which came bearing livelihood projects, not just guns.

‘Include communities’

Meanwhile, the group said, while martial law in Mindanao has contributed to fewer deaths and violent conflicts in 2018, the planned decommissioning of the MILF should also include communities. De la Rosa said the sharp decrease in incidents of deaths and conflicts was partly borne by fewer coordinated attacks and the lesser use of explosives by Mindanao armed groups. The group said the Philippine National Police made more arrests for illegal possession of firearms last year, leading to a decline in gun-related deaths by 31 percent from 1,290 in 2017 to 891 in 2018. Bombings also declined from 193 incidents in 2017 to 166 in 2018, according to the group, whose report also covered Isabela and Cotabato Cities, and the Davao and Caraga regions. Lara believes the impact of the decommissioning of MILF forces would be “negligible” in Mindanao in terms of weapons, although he acknowledged that it could be an important part of settling the conflict between the government and the group. “There has been two types of weapons...those...owned by the [MILF] members and those that are owned by the organization. The agreement is to decommission those... owned by the organization and not but by the members,” he said.

Faeldon. . .

Continued from A8

“Prisoners go wayward when not visited by relatives,” Sotto said, and then, addressing Justice secretary Menardo Guevarra, “I think it’s about time, secretary.” At the same time, Minority Leader Franklin Drilon pinned down Undersecretary Nicanor Faeldon, Bureau of Corrections chief, for “signing Sanchez’s release order despite claiming he saw serious violations of GCTA credit application in his carpeta,” referring to the former Calauan, Laguna, mayor’s prison record. Sen. Francis Tolentino pointed out that an infraction was committed “when a GCTA was issued during the election period; that was a clear violation,” but noted that Senate probers have yet to be provided with relevant documents, even as Faeldon confirmed the number of those released “might be [in the] thousands.” Gordon said, “We asked for the list but none has been given yet.”He said they expect to have it in time, referring to documents on drug lords released, including inmates sentenced for heinous crimes but were granted GCTA.

Charge Faeldon—House

Members of the House Committee on Justice said on Tuesday there is basis to recommend the filing of criminal and administrative cases against Faeldon. At the committee’s organizational hearing, Supt. Melencio Faustino, head of the Davao Penal Farm, admitted that Faeldon had directed them not to submit to the DOJ the GCTA records of convicts applying for early release despite facing life prison terms.

Rice. . .

Continued from A1

Addressing PSA, Pangilinan urged the agency to“review your data because the results of your monitoring are different from those experienced by our farmers on the ground. The report until last night is that in Nueva Ecija, palay was priced at P8 per kg.” Pangilinan said “before the rice trade liberalization law was implemented, the price of palay was at P20 per kg. After it became effective, why did the price go down to P12, P9 or P8 [per kg]?”

Assistance

Senator Cynthia A. Villar, presiding at Tuesday’s hearing of the Senate Committee on Agriculture and Food on Republic Act 11203, prodded officials to assist those affected by the entry of more rice imports. Villar told the Philippine Center for Postharvest Development and Mechanization to use the remaining P2 billion from the Rice Competitiveness Enhancement Fund (RCEF) to help farmers in the provinces of Nueva Ecija, Tarlac, Iloilo and Negros Occidental. She reminded National Food Authority (NFA) Administrator Judy Carol Dansal to tap their P7-billion annual budget to buy the palay of farmers.

ings that the domestic industry got injured by the surge of imports between 2013 and 2017. Market share of imports jumped to 15 percent, from 0.02 percent, during the period, leading to a sales loss of 12 percent, or P11.1 billion, for the industry in 2017. Local manufacturers were compelled to reduce prices by nearly 10 percent to compete with lower priced imports. In a statement on Tuesday, consumer group Laban Konsyumer Inc. urged the government to study the implementation of an SRP on cement, as the safeguard duty reportedly raised prices of the commodity. According to Laban Konsyumer, retail prices of cement in Metro Manila ranged between P205 and P215 per bag in February, but surged to as high as P240 per bag since the safeguard duty was implemented.

“So, there you go, I think that it’s explanatory for the amount of weapons that will remain in the hands of combatants even after this process. So that’s the reason why we do not think there’s going to be any impact at all. There are more problems with weapons that are in the hands of general public,” Lara added. He said his group applauds the plan to retire MILF weapons “that are supposed to be in the hands of MILF combatants,” but the effort is not enough and should not lead to expectations of a major drop in attacks related to the use of firearms. Lara also said normalization should not only focus on the MILF fighters, but also communities, a matter raised by villagers during their conduct of the study.

Beyond plebiscite

Apart from keeping weapons at bay, International Alert said it was important to remember that a “plebiscite does not cement the right to rule and neither will the reference to one united Bangsamoro.” Currently, de la Rosa said, there is some level of dissatisfaction on the ground when it comes to the priorities of the Bangsamoro Transition Commission (BTC). This dissatisfaction, she said, stems from the lack of social services. This, de la Rosa said, must change for the better and in order to help the regional government to establish its legitimacy and credibility. Lara added that the BTC is currently only focused on creating laws and codes for the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Efforts to address new kinds of violence are vital, as well. Since 2011, shadow-economy issues such as illegal drugs and firearms were the primary causes of conflict. Conflicts from identity issues—linked to cultural or traditionbased conflicts—were also on the rise.

Citira. . .

Continued from A1

“If cost escalates in North America, then [there’ll be a] trickle-down effect, countries like the Philippines, India and others will be more attractive as a result,” Untal said on the sidelines of Digital Disruption 2.0 in Pasay. On fiscal reform, Untal is referring to the government’s plan to reduce corporate income tax (CIT) at the expense of tax perks enjoyed by firms operating in economic zones. As proposed under the Corporate Income Tax and Incentives Rationalization Act (Citira) bill, CIT rate in the Philippines will be lowered to 20 percent by 2029, from 30 percent at present. In exchange, incentives granted to locators, particularly the 5-percent tax on gross income earned (GIE) in lieu of all local and national taxes, will be stripped away. Locators warned they might move out of the Philippines if their incentives are removed, and such could mean capital flight and job losses for the country. The uncertainty arising from the plan is one of several factors that prompted the industry to revise its growth targets indicated in its road map. The road map projected IT-BPM firms to create over 100,000 jobs annually to employ a total of 1.8 million workers by 2022. According to Ibpap, the industry employs an estimated 1.23 million workers as of last year, growing 5.1 percent from 2017. Further, industry revenue improved to between $24 billion and $24.8 billion, from $23.4 billion, based on records from Ibpap. Under the road map, the industry is expected to generate $38.9 billion by 2022, from $22.9 billion in 2016. “The question now is the 8 percent to 9 percent [yearly] growth that we have in the road map, can that still hold? The answer should tell us the maximum trajectory assuming all the interventions hold, including our concern on uncertainty and what will be worst case and the likely case. This was how it was framed when we prepared the terms of reference [of the study to revise industry targets],” Untal added. The Ibpap chief said the preliminary results of the study will be presented to him on Thursday. After that, Untal will discuss with the Ibpap board what steps and changes it will introduce to the road map based on the results.

Budget. . .

Continued from A1

“That gives us now the revelation that Faeldon has directed them not to follow the department order itself. If it was followed, none of these heinous crime convicts would have been released,” said Cagayan de Oro Rep. Rufus Rodriguez. Faeldon failed to attend the hearing of the House Justice panel on Tuesday as he was also ordered to attend the second day of hearings by the Senate Committee on Justice. At the hearing, Rodriguez asked Faustino why BuCor did not implement Department Order 935 directing it to submit to DOJ all appeals for early release and applications of GCTA of convicts serving life sentences resulting from the commission of heinous crimes. “There is a department order that you are required to submit the records of those who are meted out imprisonment of reclusion perpetua to the [DOJ] secretary for his approval of early release or GCTA application. May we know why you didn’t follow the department order?” asked Rodriguez. Faustino replied, “our director general [Faeldon] ordered us not to transmit to anyone.” He added, “Yes, your honor, we are remiss of our duty to transmit.”According to Rodriguez, Faustino’s admission opens Faeldon to both criminal and administrative charges for defying the DOJ order. With this, Justice committee chairman Veloso said the panel might recommend the filing of graft charges against Faeldon. Both Veloso and Rodriguez said the House needs to revisit the GCTA law to plug loopholes in the release from prison of convicts facing stiff prison terms for commission of heinous crimes. “Good behavior is so generic that it requires more substantial definitions. It should be revisited. You must avail of the rules of the house. You should not even indulge yourself in any drinking activity. You should never violate any small rules of the house,” he added. Butch Fernandez and Jovee Marie N. Dela Cruz

LGUs aid farmers—DA

In a separate statement, the Department of Agriculture (DA) said LGUs in six rice-producing provinces had committed to help farmers affected by the drop in farm-gate prices of palay. The DA said the provincial governments of Isabela, Nueva Ecija, Ilocos Norte, Ilocos Sur, La Union and Pangasinan committed to raise P1.6 billion to prop up palay prices. The funds will bankroll their direct engagement in the rice industry from palay-buying, drying, milling to rice marketing. “With the buying price of palay at 14-percent moisture content set at P17 per kilo, these six provinces could procure roughly 91,176 metric tons of palay from farmers this wet season harvest,” Agriculture Secretary William D. Dar said. “Further, using the current national palay harvest average of roughly 4 metric tons per hectare, the P1.6 billion additional fund from the six provinces could make about 27,000 small rice farmers and their families happy,” Dar added. The DA said the largest commitment was made by Pangasinan Governor Amado Espino, who is allocating P300 million for the farmers, followed by Nueva Ecija Governor Aurelio Umali, P250 million. Dar said Ilocos Norte Governor Matthew Marcos Manotoc, Ilocos Sur Vice Governor Jeremias Singson, and La Union Vice Governor Mario Ortega committed to allocate P200 million each. In his recent visit to Cauayan, Isabela, Dar said the province has been directly buying palay from its farmers in recent years. Dar encouraged officials of other provinces

One of the possible options, Ungab said, is the passage of a supplemental budget. “Most likely it could be a supplemental or whatever. We will study how the situation can be remedied because those that were vetoed are still there and they became unappropriated. So, it is possible that we can tap it later,” Ungab said. President Duterte vetoed P95.3 billion in the DPWH budget under the 2019 GAA for “not being part of the President’s priority projects.” Following his proposal to withdraw the 2020 GAB, Deputy Speaker for Finance Luis Raymund Villafuerte has said several lawmakers were “dissatisfied” with several items in the 2020 national budget.He added lawmakers are questioning the inequitable distribution of allocations for their districts in the P4.1-trillion national budget for 2020. Based on the schedule of activities, the appropriations committee will deliberate the 2020 NEP starting August 22 to September 9, while the approval of the committee report is set on September 11. The proposed 2020 General Appropriations Act is expected to be approved on third and final reading on October 4. Then, the House will transmit it to the Senate for its own deliberations on October 8. The Congress is eyeing to submit the 2020 national budget to President Duterte on December 20.

he visited to do the same. On Monday, Representative Estrellita B. Suansing of the First District of Nueva Ecija told a hearing at the House Committee on Agriculture and Food that rice prices in her province have already dropped to P7 per kg.

No official data—Neda

However, National Economic and Development Authority (Neda) Assistant Secretary Mercedita A. Sombilla said this has not been confirmed by official data released by the PSA. Based on the latest PSA data, Sombilla said dry rice prices average P17 to P18 per kg and wet rice, P13 per kg to P14 per kg. Villar asked farmers to list the areas where palay prices are low so that the NFA can buy their crop at P17 per kg. Recalling a testimony by Arze Glipo of the National Movement for Food Security, Pangilinan said small rice farmers earn only P27,000 per cropping or P54,000 every year. He said the income of farmers is the benchmark of other countries for government interventions in the agricultural sector. “In other countries, such as Vietnam, China and Thailand, the income of farmers is used as a gauge in determining the effectiveness of government interventions.” Pangilinan said the billions of pesos spent by the government for various agricultural programs mean nothing if these will not improve the income of farmers. He also said he shares Dar’s vision to double farmers’ income.

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In the ad material of Notice of filing of Application for Alien Employment Permits published on September 3, 2019, the Company name and address of Mr. Hu, Deyi should have been read as FAR EAST VISA AND TRAVEL INC. Located at UG-02 & 04, Cityland 10 Tower II, 154 H.V. Dela Costa St., Bel-Air, Makati, Metro Manila and not as published. While in the ad material published on August 20, 2019, the Company name and address of Mr. Jiang, Jiazheng, and Mr. Jiang, Jianwei should have been read as SKY DRAGON GLOBAL TECHNOLOGIES CORP. located at Unit 710, 2/F- 5/F, Global Link Center, Shaw Blvd. Wack-Wack, Mandaluyong City, Metro Manila and not as published. If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

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A6 Wednesday, September 4, 2019 • Editor: Angel R. Calso

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editorial

Harnessing the potential of the versatile bamboo

ext to rice, the bamboo is regarded as the staff of life in many parts of Asia, according to the Food and Agriculture Organization (FAO). This is because the giant grass species is staple food in Asian countries. Bamboo sprouts, for instance, are a popular food item in Southeast Asian and East Asian countries. The bamboo’s versatility is on a par with that of coconut, which is widely regarded as the tree of life. FAO said the bamboo can also be used in the construction of houses, bridges, furniture, fishing poles, water pipes, weapons, bags, baskets and cloth. Unlike other grass species, cultivating the bamboo does not require much in terms of resources and time. Citing studies, the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development (PCAARD) said the bamboo requires little attention during its growing/ production cycle and can occupy the same ecological niche as that of trees. Despite its versatility, the bamboo is not cultivated as extensively as other crops. Millions of hectares are devoted to rice and corn—the staple food of Filipinos—and even coconuts. Compared to these crops, the PCAARD said there are only around 39,200 to 52,700 hectares of bamboo plantations in the Philippines. The attached agency of the Department of Science and Technology said, however, that only 7 percent of these are in private plantations. Sen. Cynthia A. Villar noted that Filipinos have yet to recognize the economic importance of the bamboo. The senator, who attended the Global Bamboo and Rattan Congress in China last year, noted that Chinese farmers who have a 1-hectare plantation could earn P1.5 million a year. This is because they were taught to process bamboo into other products. The cultivation of bamboo requires only a modest capital investment to generate a steady income, but the private sector is not too keen on it due to the lack of a comprehensive policy. Also, the requirement of a certificate of verification for harvested bamboo dampens private-sector investment in bamboo cultivation (See, “Study: PHL bamboo industry lacks comprehensive policy,” in the BusinessMirror, August 26, 2018). PCAARD said the COV is a legal document used by traders and shippers for the movement of bamboo from point of origin to destination and serves as proof of the legality of source. If the government is looking for other crops that farmers can plant, the bamboo is a viable alternative. The government can encourage its cultivation by repealing the order that requires the COV and by investing in the construction of processing plants. Congress should also consider giving the Department of Environment and Natural Resources the budget it has requested to expand bamboo plantations next year (See, “DENR needs funds to expand bamboo plantations,” in the BusinessMirror, August 26, 2019). The P5 billion being requested by the DENR is small change compared to the numerous benefits that can be derived from planting bamboo. The government could help farmers and companies find other uses for the sturdy bamboo by investing in research and development. Incentives will go a long way in encouraging the private sector to go into the cultivation and processing of bamboo. Aside from their role in fighting climate change, bamboo plantations will increase the country’s wood supply and even the availability of jobs, particularly for those in the countryside. Since 2005

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Free fire Continued from A1

S we reflect on this special occasion, we are reminded of our own personal and collective sacrifices to fulfill the mandate of the Department of Foreign Affairs (DFA) and of the Philippine government to serve the Filipino people and to uphold the national interest here and abroad.

We are also reminded of the men and women of the DFA, both of the past and the present, and their strong commitment to carrying out the most daunting, and even worse, the most grindingly tedious of tasks in the line of duty; especially the last over which we sometimes blow a fuse. We have a group of them in Tripoli today. I won’t let them come home lest in their absence something untoward happens to our people there. Until the last of our people are safe, they will not return to the safety of home. You might be tempted to think that the sacrifice of Abraham involved the sacrifice of his son and not himself. But I venture to say, as each and every one of us knows, that it is far, far easier to sacrifice ourselves than those we love; it is far, far harder to live without our loved ones than alone. We can live in the most basic sense just by ourselves; but we cannot live for long without the company of our loved ones and still call it living. Yet, this is what our countrymen

do abroad to make the living they cannot at home; that despite the skin-crawling b.s. of publicists that it’s more fun in the Philippines. No, it isn’t if you’re poor. It is what DFA people in hardship posts abroad undergo: not everyone gets an easy post. And there will be less of those as we follow OFWs where they go deeper into the hearts of darkness where opportunities grow. As I have previously noted, work in the Foreign Service is a thankless job. We try to protect and hopefully advance our national interests and serve millions of Filipinos abroad with unfailing dedication and unflagging effort; knowing that not even they will recognize what we have done for them because after helping them get back on their feet they need move on—and we, we must take on the next problem. Forget reward and recognition. But God sees it all. In this commemoration of the Feast of Sacrifice, we honor the

sacrifices of the unsung, the unmentioned and the often taken for granted. We take pride precisely in that indifference because the greatest courage lies in doing one’s duty on the sand of an arena where the galleries are empty. The legislation of the Eidul Adha as a national holiday in the Philippines is also a manifestation of our unbidden and quite spontaneous embrace of the beauty and strength to be found in our cultural diversity. The Filipino never needs to try to be what all peoples should be: brothers and sisters of each other across all humankind. That is our pride as the country where the Statue of Liberty should have been erected; because we’ve always taken in the unwanted and the wretched of the Earth. And why? Because we are Filipinos. I am delighted to note that this department is among, if not the most successful national government agency in attracting the most diverse pool of talents from all over the country. And I want to emphasize that. I abhor the cookie-cutter approach to recruitment. So boring and commonplace. Foreign Affairs must be what it should be: a mirror image of our internal diversity in personality, in talent, in outlook and intellectual focus. Step into a foreign post or just here at HQ and you step into Philippine society—including the mass poverty as you all realize when you get your paycheck. And so I thank you all for your sacrifices and contributions. Our resolve to promote equal opportunity and diversity in our workplace enables us to advance our various advocacies with credibility as truly Filipino people-

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The obedience of His creation: Eidul Adha

Aurora C. Ignacio

All About Social Security

xcitement fills the halls of SSS every September with the monthlong celebration and commemoration of the founding anniversary of the pension fund. For 62 years now, SSS has been providing meaningful social security protection to workers in the private sector. The most remarkable milestone of SSS is the passing and implementation of Republic Act 11199 or the Social Security Act of 2018, which took effect on March 5, 2019. After 21 years, the SS law was repealed. The law provided a breath of new life for SSS with provisions that will make it more responsive to its members and pensioners under a more sustainable fund. This year’s anniversary theme, “SSS @ your fingertips: We connect and protect,” encapsulates the vision of the agency to improve services through full digitalization. W it h me mb e r s ac ros s t he

Philippine archipelago, as well as abroad, SSS has continually expanded its branch network and harnessed technology to deliver its services. In the coming years, SSS is set to leap toward full digital transformation, which will redefine its goal and reshape its culture to be a truly customer-centric organization. Processes are now being reengineered to leverage on digital technology. By empowering its work force and its membership to use its electronic services, SSS will be able to effectively expand its global reach, connect with its stakeholders, and make its ser vices conveniently

accessible to Filipino workers whenever and wherever they are. Undoubtedly, digital solutions enable faster, easier and cheaper access to SSS services. To date, SSS has five electronic channels for members to either access their personal records like checking posted contributions or transact with the agency like filing a salary loan online. All members should register to My.SSS found in the web site. This is linked to the SSS Mobile App. In the branches, Self-Service Express Terminals are available so there’s no need to do face-to-face transactions. Text SSS is also an option while the Interactive Voice Response System or IVRS could also be accessed anytime, anywhere. On September 12, the anniversary exhibit showcasing the launch of the “virtual branch” of SSS will be formally opened at the Main Office lobby. On the same day, the Balikat ng Bayan Awarding ceremony will be held to honor top employers and recognize best partners of SSS. Nationwide, a Members’ Day will be held on the same day in SSS branches. A simple meal will be shared to members and pensioners who will transact with SSS. This is a form

driven work and mission. Inclusivity is our aim. Our individual aspirations will naturally be diverse and that is good; but our national loyalty the same. We have common aspirations for a better future. Therefore, we should all work together to make the Foreign Service work satisfyingly for all. In our consular and ATN offices, we serve millions of passport applicants and assist distressed OFWs with the same quality of service— regardless of their backgrounds and affiliations. Sometimes we get cross under all the pressure but all the time we never relent, we never falter, we always deliver what is expected, as fast as humanly possible. As we celebrate Eid, may we all be inspired by its universal message— to give what is most precious to us in obedience to the Almighty as befits His creation. With this addition: that we give what’s most precious to us that others need not have to give up the same. Finally, I would like to commend the efforts of the Office of Middle East and African Affairs, and the DFA Muslim Personnel Association for organizing this Eid gathering for all of us to enjoy. As a sura says, By the Sun and the Noonday brightness, by the Lord of All Creation, I hope the food is good. That is the test of sincerity. Eid Mubarak! Nota bene: And the food was delicious; the baklava I insisted on made it on time—all prepared and elegantly served by Diamond Hotel. Thank you to our Muslim brothers and sisters working with us in DFA for your warm and unstinting hospitality. They paid the bill. And thank you Mark for this speech.

of thanksgiving to its members for sustaining the pension fund. On September 26, the Best Employees of SSS will be awarded too in recognition of the exemplary work of the top workers of the pension fund. SSS will also conduct a bloodletting activity on September 27 and a Pensioner’s Day on September 28. Every institutional anniversary is an opportunity to look back at the past and remember all the milestones that has made it relevant until today. Amid the challenges in the past 62 years, SSS has been and will always champion the right of every Filipino to social protection. It will continue to connect and protect all its members worldwide. nnn AT this juncture, we wish to call on all delinquent employers with unpaid contributions of their employees to avail themselves of the Contribution Penalty Condonation Program. The deadline is on Friday, September 6, 2019. Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Opinion BusinessMirror

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Wednesday, September 4, 2019 A7

In California, a buzzy campaign A short history of variable contracts idea gets a test run By Adam Beam | The Associated Press

TOCKTON, California—Democratic presidential candidate Andrew Yang wants to give cash to every American each month. Susie Garza has never heard of Yang. But since February, she’s been getting $500 a month from a nonprofit in Stockton, California, as part of an experiment that offers something unusual in presidential politics: a trial run of a campaign promise, highlighting the benefits and challenges in real time. Garza can spend the money however she wants. She uses $150 of it to pay for her cell phone and another $100 or so to pay off her dog’s veterinarian bills. She spends the rest on her two grandsons now that she can afford to buy them birthday presents online and let them get the big bag of chips at the 7-Eleven. “I’ve never been able to do that. I thought it was just the coolest thing,” said Garza, who is unemployed and previously was addicted to drugs, though she said she has been sober for 18 years following a stint in prison. “I like it because I feel more independent, like I’m in charge. I really have something that’s my own.” Garza is part of an experiment testing the impact of “universal basic income,” an old idea getting new life thanks to the 2020 presidential race, although Stockton’s project is an independent one and has no connection to any presidential race. Yang, a tech entrepreneur, has anchored his long shot bid with a proposal to give $1,000 in cash to every American, saying the payments will shield workers from the pain of certain job losses caused by automation. The idea has helped him win unexpected support and even muscle out some better-known candidates from the debate stages. His proposal isn’t too far off from one by US Sen. Kamala Harris, one of the top contenders for the Democratic nomination, who has a proposal to give up to $500 a month to working families. Stockton, once known as the foreclosure capital of the country and for one of the nation’s largest municipal bankruptcies, is a step ahead of both candidates. In February, the city launched the Stockton Economic Empowerment Demonstration, a pilot program spearheaded by a new mayor and financed in part by the nonprofit led by Facebook cofounder Chris Hughes. The city chose 125 people who earned at or below the city’s median household income of $46,033. They get the money on a debit card on the 15th of each month. “I think poverty is immoral, I think it is antiquated and I think it shouldn’t exist,” said Michael Tubbs, the city’s 29-year-old Democratic mayor. Tubbs’s personal story includes a cousin who was killed, a father who is in prison and a mother who, as a teenager, raised him with the help of multiple jobs. He found his way to Stanford and public service, where he persuaded his beleaguered city to sign on to a provocative new idea: guaranteed cash. Stockton residents, who have elected Republican mayors for 16 out of the last 22 years, were skeptical, worried

about encouraging people not to work. Tubbs said he calmed their fears by noting the money came from private donations, not taxpayer dollars. “I would tell people all the time that would be upset or would call angry, I would say, well, I’m just as angry as you are, but I’m angry about the problem. I’m not angry about possible solutions,” Tubbs said. A team of researchers is monitoring the participants. Their chief interest is not finances but happiness. They are using what they call a “mattering scale” to measure how much people feel like they matter to society. “Do people notice you are there? Those things are correlated to health and well-being,” said Stacia MartinWest, a researcher at the University of Tennessee who is working on the program along with Amy Castro-Baker at the University of Pennsylvania. The money has made Jovan Bravo happier. The 31-year-old Stockton native and construction worker is married and has three children, ages 13, eight and four. He said he didn’t see enough of his children when he worked six days a week to pay the bills. That changed when he started getting $500 a month. Now he only works one Saturday a month. He uses the other Saturdays to take his kids to the amusement park and ride bikes with them in the park. “It’s made a huge difference,” he said. “Just being able to spend more time with the wife and kids, it brings us closer together.” Stockton officials do not release the names of the program participants. They arrange interviews with journalists only for those who volunteer to discuss their experiences. The idea of a guaranteed income dates back to at least the 18th century and has crossed ideological and cultural lines. In the 1960s and 1970s, Republicans Donald Rumsfeld and Dick Cheney oversaw four guaranteedincome experiments scattered across the country when Rumsfeld, later a defense secretary, was director of President Richard Nixon’s Office of Economic Opportunity and Cheney, the future vice president, was his deputy. The program had some hiccups, including a woman who spent all the money on alcohol and a man who went into debt buying expensive furniture for his government-subsidized apartment, according to a 1970 New York Times story. But the experiment concluded that the money did not stop people from working and led Nixon to propose expanding the program, which ultimately did not pass Congress. Since then, other studies have reached similar results. A 2018 study in Alaska, where residents have gotten a share of the state’s oil revenue every year since 1982, found the money has not shrunk the state’s labor force. The same was found in a 2010 UCLA study in North Carolina, where the Eastern Band of Cherokee Indians has shared casino revenue with its members since the mid-1990s. The latest momentum comes with the help of the technology industry, which is grappling with how to prepare for the job losses likely to come with automation and artificial intelligence.

Atty. Dennis B. Funa

INSURANCE FORUM

ariable contracts or investment-linked insurance products is regulated by Sections 238 to 246 of the Amended Insurance Code. Investment-linked insurance have varying labels in different jurisdictions. In the US, it is known as variable life or variable universal life. In the UK, it is known as unit-linked, owing to its roots in unit trusts. In Asia, it is known as investmentlinked, or insurance that is “linked” to investments. Others call it equity-linked insurance.

Variable contracts started out as unit-linked policies in the UK in 1957 when it was first introduced. It was unit trusts (or mutual funds as it is called in the US) that gave birth to variable contracts. When unscrupulous promoters of unit trusts started to appear, the UK government issued a government regulation in 1958, the Prevention of Fraud (Investments) Act, which required that unit trusts could only be sold by intermediaries or stockbrokers. This made the selling of mutual funds difficult. Sales could not be generated regularly so an idea was hatched for the sales of

life insurance to generate sales for unit trusts, as well. Premiums of a life insurance policy would be invested in a unit trust. This scheme was pioneered in the UK by Americans Bernard Cornfeld and Edward M. Cowett who were selling mutual funds called Investors’ Overseas Services. Cornfeld eventually founded the International Life Insurance (ILI; later Cannon Assurance) which sold investment-linked insurance. The IOS was later mismanaged leading to its collapse. Unit trusts originated in the United Kingdom in the second half

On the dark side of cruel, slavery exists Susan V. Ople

Scribbles

here are times when I would look wistfully over the other side of the professional fence and imagine myself firmly established in the corporate life. Though fast-paced and highly competitive, one can move up the corporate career ladder based on the skills set and work ethic that he or she possesses. Work in a nongovernment organization is never struggle-free, and comes with a great deal of personal financial uncertainty. Yet, the source of fulfillment in NGO work is unquantifiable, especially when you see how women on the dark side of cruel, survive their ordeal. For the past 15 years, my NGO, the Blas F. Ople Policy Center, has been lending a helping hand to distressed Filipino workers from overseas, mostly women, who have suffered severe exploitation and cruelty beyond words in the hands of foreign employers. When I have much to complain about in my personal life, I think of these brave women, and suddenly, my pain amounts to nothing. Here are three stories shared by our overseas workers who suffered the indignity of modern slavery, and yet have come out of it still hopeful that the best is yet to come.

Tied to a tree

“Ana,” a 29-year-old solo parent of two young children, left her home province to go overseas as a domestic worker in Saudi Arabia. Her lady employer came from a prominent and wealthy family. One day, Ana moved

a piece of furniture outside as part of her house chores. Her employer got mad at seeing the piece of furniture exposed under the hot sun. She berated Ana who was clueless as to what she did wrong. To teach the domestic worker a lesson, the employer ordered her driver to tie Ana to the tree. The domestic worker stood under the sun, tied to a tree, from 2 o’clock in the afternoon until 9 o’clock at night. Her coworker was able to take a video of Ana as she struggled to survive her ordeal. The video became viral, prompting her repatriation with the help of the Philippine Embassy. Through the joint partnership between the Blas Ople Policy Center and the Villar Sipag Foundation led by Sen. Cynthia Villar, Ana received grocery items and modest capital to put up a small store in front of her house. She is keen on pursuing a case to ensure that the Philippine Overseas Employment Administration (POEA) will never allow her employer to hire any worker from the Philippines.

Scalded with cooking oil

“Amie” left behind a teaching job in order to work as a domestic

The hard part of ending inequality is paying for it By Nir Kaissar Bloomberg Opinion

uried among the storylines about global trade and political intrigue from the G-7 summit last month is perhaps the most noteworthy one of all. Business for Inclusive Growth, or B4IG, a coalition of 34 multinational companies with more than 3 million employees and revenues topping $1 trillion, unveiled an initiative to tackle inequality with help from the Organization for Economic Cooperation and Development. In its “pledge against inequalities,” the B4IG states what should be obvious to all—that “persistently high and rising inequality risks fracturing societies and undermining economic and business growth.” Its ambitious agenda

calls for decent wages, expanding access to basic products and services, and supporting community development programs. Sound familiar? Days earlier, the Business Roundtable, an association of CEOs of top American companies, abandoned its long-standing principle of putting shareholders first. Instead, it adopted a new “Statement on the Purpose of a Corporation” signed by 181 CEOs committing to “lead their companies for the benefit of all stakeholders,” including customers, employees, suppliers and communities. Many of the ills cited by B4IG and the Business Roundtable can be traced to one culprit: Too many companies pay their workers less than a living wage, which means they must forgo basic necessities or fall deeper into debt. It’s nakedly

of the 19th century. A unit trust is a form of collective investment constituted under a trust deed. A unit trust pools investors’ money into a single fund, which is managed by a fund manager. Unit trusts offer access to a wide range of investments, and depending on the trust, it may invest in securities, such as shares, bonds, and also properties, mortgages and cash equivalents. Those investing in the trust own “units” whose price is called the “net asset value.” The first unit trust was launched in the UK in 1931 by M&G under the inspiration of Ian Fairbairn. The rationale behind the launch was to emulate the comparative robustness of US mutual funds through the 1929 Wall Street crash. The first trust called the “First British Fixed Trust” held the shares of 24 leading companies in a fixed portfolio that was not changed for the fixed lifespan of 20 years. The trust was relaunched as the M&G General Trust and later renamed as the Blue Chip Fund. By 1939 there were around 100 trusts in the UK, managing funds in the region of £80 million. Eventually, unit trust companies made arrangements with life companies to sell policies linked to their own units. In time, life companies

unsustainable, and big corporations are beginning to realize that they can’t continue to neglect workers. Jamie Dimon, chairman of the Business Roundtable and CEO of JPMorgan Chase & Co., which is also a member of B4IG, acknowledged in the Business Roundtable’s press release that, “Major employers are investing in their workers and communities because they know it is the only way to be successful over the long term.” It’s not just the long term companies are worried about. Some lawmakers are eager to tackle inequality and have already floated proposals to redistribute income to struggling workers, including higher corporate tax rates, a wealth tax, near-confiscatory marginal tax rates for high earners and taxing unrealized capital gains. The cost of those proposals to

companies, executives and shareholders is likely to be considerably higher than simply paying workers a decent wage. The Business Roundtable and B4IG are no doubt trying to get ahead of lawmakers’ efforts. But high-minded initiatives like the ones proposed by the Business Roundtable and B4IG aren’t enough without money to pay for them, and I suspect companies won’t easily open their coffers, at least in the US. Executives and shareholders are drunk on years of fat profits—and the generous compensation packages and higher share prices that follow—and they won’t be keen to slow that success. The profit margin for the S&P 500 Index, or income as a percentage of revenue, swelled to 10.2 percent in 2018, the highest since 1990. The ratio of corporate profits as a per-

worker in Kuala Lumpur, Malaysia. For the first few weeks, she thought herself lucky because her employers were a young, successful married couple that worked in the financial sector. Soon enough, the couple revealed a conjugal meanness toward Amie that defied description. Her face, arms and legs bore scars caused by beatings and knife wounds. Out of jealousy, her lady employer decided to cut Amie’s hair, so that the latter would appear ugly to her spouse. They starved her and made her work long hours. One day, the lady employer brought out a frying pan and poured cooking oil on it. Amie who was also working in the kitchen thought that her employer was just there to cook. Instead, the employer took the frying pan and poured the boiling oil over Amie’s body. Thinking that they went too far, and seeing how weak with severe burns their domestic worker had become, the couple decided to take a long drive. They left Amie on a deserted road. A Filipino who saw her walking around in a dazed state near to the point of collapse, brought the scarred, frightened and starving worker to the nearest church. The church contacted the Philippine Embassy and the case was reported to the police. Amie with the help and support of the Philippine Embassy, the Overseas Workers Welfare Administration and the Ople Center, pursued a case of human trafficking against her Malaysian employers. Today, Amie has become a strong advocate of migrant workers’ rights. She now works for the Ople Center and is busy helping other distressed OFWs with their cases.

centage of GDP hit the highest on record in 2012, according to the US Bureau of Economic Analysis, and that ratio has remained elevated. And as profits go, so goes the payoff for the C-suite and shareholders. The CEO-to-worker pay ratio ballooned to 281 in 2017 from 195 in 2009, according to the Economic Policy Institute, and it projects a comparable ratio for 2018. Shareholders have been richly rewarded, too, as the US stock market has more than quadrupled in value since early 2009. Another obstacle is that the amount of money required to adequately compensate workers is probably higher than acknowledged. Rep. Katie Porter of California confronted Dimon with the gruesome math during a congressional hearing in April, demonstrating that

developed their own unit-linked products. Today, unit-linked policies are so popular in the UK. According to the Association of British Insurers, as of 2013, one-third of the 7.2 million in force investment and savings policies were unit-linked policies. It also soon became popular in Canada, Australia, South Africa and the Netherlands where British insurers had a market base. In the US, investment-linked insurance was first introduced in the mid-1970s. By 2014, according to Life Insurance Marketing and Research Association, new premiums were generated as follows: universal life and indexed universal life combined (38 percent), whole life (33 percent), term life (21 percent) and variable universal life (8 percent). In Asia, investment-linked long term insurance products were first introduced in the late 1980s. In the Philippines, Pru Life UK pioneered unit-linked or investmentlinked life insurance with the introduction of the PruLink Investor Account in 2002. Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016. E-mail: dennisfuna@yahoo.com.

From Dubai to Bahrain “Jean” had a good job in Dubai. She worked for a salon and though her salary was low, it was enough to sustain her daily needs. One day, a Filipino couple offered her a job as a domestic worker in Bahrain. The salary would be much higher, the couple said, with a guarantee that her new employer would be kind and generous. She accepted the offer and flew to Bahrain using a ticket provided by the couple. Upon her arrival, she was taken to an apartment. There was no employer, no job contract and no salary. There were men, countless of them, who would go to the apartment, and were let in provided that they pay, so that they could have sex with Jean. She managed to escape with another victim and out of fear of reprisal from the police, her recruiters decided to send her back to the Philippines. Jean is now helping her husband with a small business, while cooperating with the Inter-Agency Council Against Trafficking. On the dark side of cruel, nobody wins—least of all, the victims. We owe it to them and the families that they love to do everything possible to end human slavery. Each one of these survivors would appreciate a helping hand from good samaritans that can help them find a local, decent job or who can train them to become micro-entrepreneurs. For those willing to help, please contact us at the Blas F. Ople Policy Center via blasoplecenter@gmail.com. Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the InterAgency Council Against Trafficking.

an entry-level position at JPMorgan in Irvine, California, that pays $16.50 an hour falls well short of a living wage for a single mother with one child—and that’s 10 percent more than the $15 minimum wage companies already balk at paying. There are other signs that fixing wage inequality is no small task. For example, the median employee compensation at roughly half of the largest 1,000 US companies by market value falls short of a living wage for a family of four. The median household income in the US is roughly 25 percent less than the amount needed to cover living costs for a family of four in Midwestern cities, such as Omaha, Kansas City, Milwaukee or Cleveland, according to EPI estimates, never mind the more expensive locales on the coasts.

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‘Peace in south can’t rest on BOL, ML alone’

By Cai U. Ordinario @caiordinario & Rene Acosta @reneacostaBM

F the government wants to keep the fragile peace prevailing in Mindanao, it cannot solely rely on the passage of the Bangsamoro Organic Law (BOL) and martial law imposed in the region, International Alert said on Tuesday.

In a briefing on its Conflict Alert report, International Alert said while the number of violent incidents and deaths in the

Bangsamoro region plunged in 2018, there is a chance it will continue and escalate. Currently, what seems to be

holding the peace is the passage of the BOL and martial law which has been in place since May 2017. It was recently extended by Congress until the end of 2019. “The State was also able to maintain a fragile peace in the Bangsamoro [region] by imposing martial law, which deterred the carrying and use of firearms,” International Alert Philippines Country Manager Nikki de la Rosa said. The report said conflict incidence in the Bangsamoro region dropped 30 percent to 2,910 incidents in 2018 from 4,140 incidents in 2017. Conflict-related deaths also declined by 60 percent to 900 deaths in 2018 from 2,261 deaths in 2017.

Senate seeks GCTA credits halt, House wants Faeldon charged

ENATE probers pressed prison authorities on Tuesday to suspend the issuance of good conduct time allowance (GCTA) credits to prisoners serving sentences for heinous crimes, including controversial ex-Mayor Antonio Sanchez, convicted of rape and murder. The motion was adopted at a hearing presided by Sen. Richard Gordon, who chairs the Justice

committee that led the joint inquiry of five panels convened to consider 14 bills addressing reforms needed in the national penitentiary system, among others. Neophyte Senator Ronald dela Rosa backed Senate President Vicente Sotto III’s move to suspend GCTAs after getting updates from prison authorities at Tuesday’s joint Senate inquiry. Dela Rosa also confirmed

SEVERE TROPICAL STORM “LIWAYWAY” 205 KM EAST OF BASCO, BATANES SOUTHWEST MONSOON AFFECTING LUZON AND WESTERN VISAYAS as of 4:00 pm - September 3, 2019

reports prisoners were allowed to build kubols or makeshift huts put up by inmates cramped in a compound housing 36,000 prisoners, noting that many of them were “sleeping in roadsides and basketball courts.” Sotto said this was why he filed a bill to improve penal institutions, suggesting to DOJ officials to consider putting jails under a regional setup. See “Faeldon,” A2

However, the level of violence in the region remained higher between 2016 and 2018 compared to the 2013 to 2015 period.

Weapons are key

International Alert Senior Peace and Conflict Adviser Francisco Lara said the key in preventing violence from continuing and escalating is the use of weapons. De la Rosa said the presence of weapons usually leads to violence. And in the Philippines, through Republic Act 10591 otherwise known as the Comprehensive Firearms and Ammunition Regulation Act passed in 2013, this can be difficult. The Implementing Rules and Regulations (IRR) of the law says,

a licensed citizen with at least 16 firearms “upon the effectivity of this IRR shall be automatically certified as a gun collector and shall secure a Type 5 License to Own and Possess Firearms.” Lara noted: “Under 10591, you can set up your own security firm. So what’s going to happen? The MILF can turn itself into a major blue guard organization. I mean, I’m not being bizarre here. Those are the possibilities that were put under 10591 when PNoy [former President Benigno Aquino III] signed that agreement. And we have been railing against that because it’s inconsistent.” At the national level, he added, “you permit people to own as many

as 15 firearms per person, including priests, entertainers, lawyers, bankers, check the list. That’s in the books. And then you’re going to tell the Moro people they cannot have firearms? That’s a discriminatory law against a practice to decommission. What will happen is that people will maintain their ownership of weapons or even buy more.” De la Rosa said an agreement on the ground to disallow the carrying of weapons in public is needed. This, she said, was part of the success of the Iranun corridor in keeping and maintaining peace. The agreement, Lara said, is being implemented by the 813th Infantry Battalion. See “Peace,” A2

Panelo defends endorsement of Sanchez case

DOLE DELAYS S.O.T. BILL PRESENTATION TO Q4

ALACAÑANG on Tuesday denied any irregularity in its processing the request for pardon of former Calauan Mayor Antonio Sanchez to the Board of Pardons and Parole (BPP). In a press conference on Tuesday, Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said his office got a letter from Sanchez’s family earlier this year requesting that the ex-politician be given pardon. He even admitted he personally met with members of the Sanchez family. Panelo, however, stressed they treated the letter from Sanchez as they did with other similar requests, which they got by referring it to the appropriate government agency, in this case the BPP. “There’s nothing there that will even remotely be viewed as an intervention or as a recommendation,” Panelo said. Aside from Sanchez’s case, he said his office got at least 50 similar requests for pardon. The BPP later denied the request of the Sanchez family for executive clemency, stating the gravity of the offense of Sanchez, who was convicted for murder and rape. Panelo issued the clarification after Inquirer.net and Rappler published reports that Panelo “endorsed” the letter for pardon of Sanchez. Panelo was irked by the “erroneously and even maliciously” report of both news web sites and announced he will file libel charges against them. In a statement, Rappler dismissed the libel threat as a mere diversionary tactic from Panelo. Meanwhile, Sen. Panfilo Lacson also asserted the need for some ranking Palace officials to explain their roles in the aborted plot to release Sanchez. Sen. Richard Gordon said the Sanchez family statement expecting the ex-mayor’s impending release from prison “speaks volumes” amid allegations of payoffs to prison officials, recalling how former Councilor Allan Sanchez, the ex-mayor’s son, said they “went to NBP expecting” his release. Senate President Vicente Sotto III said talks of“payoffs”cannot be avoided given the “changes in the IRR,” referring to the implementing rules and regulations governing release of prisoners that would allow Sanchez to step out of prison. On Panelo’s reported referral of Sanchez’s case to the BPP, Lacson said Panelo must explain this. “It says a lot. I think we deserve an explanation from him. In the context of being the legal officer of the President, that’s okay as he’s just accepting complaints. But from the context of being the former defense counsel of Antonio Sanchez, it says a lot.” Lacson said Panelo should have begged off from making any move related to Sanchez.

HE Department of Labor and Employment (DOLE) is now eyeing to finalize its draft Security of Tenure (SOT) bill by the last quarter of 2019. Labor Secretary Silvestre H. Bello III said they decided to delay the presentation of SOT bill to lawmakers to October or November in consideration of the ongoing budget hearings in Congress. “The timeline of Congress to approve the budget is October 1 by the latest,” Bello said. He said they will first present the SOT bill draft to Executive Secretary Salvador C. Medialdea for approval before submitting it to Congress. DOLE was supposed to complete the draft by August, but deferred this as tripartite consultations on the draft were not completed. Last week, DOLE finally sent copies of its draft SOT bill to labor and employers’ group, as well as other government economic agencies for comment. “The deadline for the submission of their position is this week,” Labor Assistant Secretary Benjo M. Benavidez told the BusinessMirror in an SMS on Tuesday.

Samuel P. Medenilla, Butch Fernandez

Mixed reactions

After an initial review of the bill, Trade Union Congress of the Philippines (TUCP)

M3. . .

Continued from A1

as it provides fuel to the productive sectors of the country. However, an excessively slow growth in M3 could be detrimental to the country’s overall growth, especially if it is not enough to fuel the productive activities in the economy. An excessively high cash supply growth, meanwhile, could stoke inflationary pressures and pull prices upwards for the economy. In its statement on the July domestic liquidity increase, the BSP vowed to continue to monitor domestic liquidity dynamics to ensure that overall monetary conditions remain in line with maintaining price and financial stability. Data pointed to demand for credit as the principal driver of cash supply growth during the period.

Bank lending robust

In a separate statement, the regulators said bank lending grew significantly faster than the overall domestic liquidity growth during the month. Preliminary data show outstanding loans of universal and commercial

Spokesman Alan Tanjusay said they “vehemently reject” its provision giving the Labor secretary authority to determine positions which are “core” to the operation of a company. Under the Labor Code, jobs directly related to the operation of a company cannot be contracted out. TUCP said the determination should be decided by a tripartite executive committee. Federation of Free Workers (FFW) President Sonny Matula says the DOLE version is better than Senate Bill 1826, the SOT bill in the 17th Congress, which President Duterte vetoed. However, he said DOLE’s version of the SOT should still be strengthened by a provision banning contracted-out positions from being subcontracted further. He will be pushing for a ban on companies retrenching workers whose regularization orders are up for appeal. TUCP and FFW, together with other members of the Nagkaisa labor coalition, will issue a unified statement on the legislation this week. For his part, Employers Confederation of the Philippines (Ecop) President Sergio OrtizLuis Jr. said they have yet to analyze the draft SOT bill of DOLE. Ecop Director General Jose Roland Moya said they will craft a position paper on the draft of DOLE. Samuel P. Medenilla

banks grew at a faster rate of 11.1 percent in July from 10.5 percent in June. Loans for production activities—which comprised 87.6 percent of banks’ aggregate loan portfolio— grew by 9.8 percent in July, similar to the pace recorded in the previous month. The growth in production loans was driven primarily by lending to the following sectors: real-estate activities (18.1 percent); financial and insurance activities (19.1 percent); electricity, gas, steam and air conditioning supply (13.8 percent), construction (38.2 percent); and wholesale and retail trade, repair of motor vehicles and motorcycle (4.5 percent). However, loans to other community, social and personal activities declined by 41.3 percent while loans to professional, scientific and technical activities declined 36 percent during the month. Meanwhile, loans for household consumption grew strongly by 23 percent in July, from 15.3 percent in June. The BSP attributed this to faster growth in motor vehicle and salary-based general purpose consumption loans during the month. Bianca Cuaresma

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Companies BusinessMirror

Wednesday, September 4, 2019

Malampaya operator still keen on extending service contract

By Lenie Lectura

@llectura

HELL Philippines Exploration BV (SPEX), operator of the Malampaya deep water gas-to-power project, said Tuesday there are discussions with the Department of Energy (DOE) on its formal request to extend Service Contract (SC) 38. SPEX managing counsel Kiril Caral said the letter request was filed in “late 2018” and there has been no formal reply from the DOE since. “There was a letter that was sent... in late 2018 informing the DOE that we expressed our interest in having SC 38 extended. SC 38 allows us for extension. That’s one of the options available within SC 38,” said Caral during the Powertrends 2019 press conference. SPEX is part of the Malampaya consortium awarded a license to conduct exploration activities under SC 38, which is set to expire in 2024. Caral said SC 38 could be extended for a maximum of 15 years but it is up to the DOE to grant its request. A request for extension was submitted and it’s something for the government to decide. It’s a matter ultimately for the DOE to discuss and inform the Malampaya consortium on what

it intends to do on the extension. Caral said they will await feedback from the DOE on “what they would want us to do for the extension to be granted. They have not given a specific time frame but of course, we are aware that the contract would expire in 2024. It has to be earlier than that.” This is the first time that SPEX has admitted that it asked DOE to extend its license. Caral said there is no need to file for another request, saying there were previous discussions with the DOE. “It’s ongoing. It’s under discussion, so no decision yet.” SPEX had said the Malampaya gas reserves could last between 2027 and 2029, depending on the demand. It is also possible that there could be new gas discovery within SC 38. “Yes, there’s still gas after 2024 but the question is, of course, how much and that will depend on what happens in the next few years. In SC 38, there have been discoveries that are not

yet being produced. Those are the logical areas where you might drill the wells,” he said. The Malampaya project is developed and operated by SPEX with a 45-percent stake on behalf of joint-venture partners Chevron Malampaya Llc., also with a 45-percent stake, and PNOC-EC (Philippine National Oil Co.-Exploration Corp.), which holds the remaining 10 percent.

40 percent of Luzon needs

The gas facility supplies 40 percent of Luzon’s power requirements and 30 percent nationwide. The gas facility fuels the following gas plants: the 1,000-megawatt Santa Rita, the 500-MW San Lorenzo, the 1,200-MW Ilijan, 97-MW Avion and the 414-MW San Gabriel. Caral said the government has received a “significant contribution” of $11 billion as of August this year from the Malampaya facility since commercial operations started in 2001. Last month, Sen. Sherwin Gatchalian, Senate Energy committee chief, said SPEX wants to extend its contract to 2030 so it can explore other potential areas near SC 38 in hopes these could yield more natural gas and extend the life of the Malampaya gas facility until 2030. “We heard that Shell is willing to explore more around that area. In fact, there are three or four potential areas around SC 38 and that will eventually extend the same quantity. That is only a

briefing to us by Shell but we also want to understand how that will affect the LNG [liquefied natural gas] terminal, knowing there are now new prospects. Because if I am the LNG terminal, why would I import if there is still [gas] by 2030. My $2-billion [investment] will be sleeping,” Gatchalian had said.

New advocates’ group

Meanwhile, a group of energy advocates formed the Philippine Energ y Independence Council (PEIC) in order to move the government and the private sector to explore new indigenous, renewable, and cleaner energy options for the country. The PEIC aims to initiate and sustain specific conversations on indigenous energy, renewable energy, energy security, energy independence, and other pertinent concepts with the youth, with rural communities, and with local and national government officials. PEIC is the first formal association in the country committed mainly to achieving the Philippines’s energ y independence. “Our council aims to be at the forefront of initiatives to continuously initiate public discourses in order to move government and private-sector decision-makers to beef up our energy reserves,” noted PEIC Chairman Dr. Tony La Viña. “We hope that these discussions can lead to concrete steps toward the goal of energy independence.”

Govt to open 1st Calax segment in Oct despite ROW challenge

Battle of networks: GMA, ABS-CBN both claiming leadership in ratings war By Lorenz S. Marasigan @lorenzmarasigan

IVAL broadcasters GMA Network Inc. and ABSCBN Corp. claimed separately on Tuesday that they led the ratings war in different areas, with the latter asserting dominance across the Philippines, while the former claimed dominance in its bailiwick areas in the Greater Manila Area. Citing data from Neilsen TV Audience Measurement, the Gozon-led network said it beat its main competitor by a hairline difference with a 31.8-percent average audience share in Urban Luzon versus its rival’s 31.7-percent share. In Mega Manila, it scored an average of 32.4 percent, a 3.3-point difference versus the Lopez-led network’s 29.1 percent. Urban Luzon accounts for 72 percent of all all urban TV viewers in the country, while Mega Manila represents 60 percent of all urban households in the Philippines. GM A , l i kew ise, led t he afternoon block at 33.3 percent versus its competitor’s 32.2 percent; and the evening block, where it recorded an average audience share of 33.9 percent versus the competitor’s 33.4 percent. In a separate statement, ABS-CBN said it continued to be the No. 1 network in the country with an average national audience share of 45 percent versus its rival’s 31-percent share in August, citing data from Kantar Media. The Lopez-led entertainment and multimedia conglomerate also claimed lead-

Taiwan firm Cal-Comp refiles paper for its IPO later this year By VG Cabuag @villygc

Eyeing to open the first 10-km segment of the Cavite-Laguna Expressway (Calax) this October, Public Works Secretary Mark Villar—with the DPWH Technical Team and executives of Metro Pacific Tollways Corp. subsidiary MPCALA Holdings, Inc.—inspects the construction development of the alignment starting from the Mamplasan Toll Barrier to Silang East, Cavite interchange. CONTRIBUTED PHOTO

HE government aims to open the first segment of the Cavite-Laguna Expressway (Calax) in October despite the perceived “challenge” in the acquisition and delivery of right-of-way. Public Works (DPWH) Secretary Mark A. Villar said opening the first segment of the thoroughfare will benefit the growing industrial, commercial and real-estate centers of this part of the Southern Tagalog region. The first segment, which runs from the Mamplasan Barrier to Santa Rosa-Tagaytay Interchange,

will benefit an initial 10,000 vehicles. It will decongest Governor’s Drive, Aguinaldo Highway and Santa Rosa-Tagaytay Road. “We are nearing the opening this October. Despite some challenges in the right-of-way acquisition which kept us from delivering earlier as we hoped, we are addressing these challenges in order to keep to the timeline and deliver the full 45 kilometers by early 2022,” Villar said. For his part, Metro Pacific Tollways South Corp. President Roberto V. Bontia said his group can deliver the facility to the govern-

ment and motorists, as ordered. “Faster, safer, more comfortable and a reliable route will be experienced by motorists traversing between Bacoor and Kawit, Cavite areas, and the Laguna and South Luzon areas,” he said. Calax will be equipped with an Automatic License Plate Recognition System, which enables a “barrier-less entry.” It will also sport IP-based Speed Detection Cameras, CCTVs, and will feature various commercial establishments, such as gasoline stations, retail outlets, convenience stores and restaurants, among others.

“Once completed, it will only take 45 minutes from the usual two-hour travel time taking the same route and about 50,000 cars will experience this convenience.” Villar said. Calax is envisioned to be a fourlane, 45-kilometer toll road that will connect the Manila-Cavite Toll Expressway and the South Luzon Expressway. It will have eight interchanges, namely: Kawit, Daang Hari, Governor’s Drive, Aguinaldo Highway, Silang, Santa Rosa-Tagaytay, Laguna Boulevard, Technopark and a Toll Barrier before Slex. Lorenz S. Marasigan

ership in Metro Manila and Mega Manila, where it scored an average audience share of 41 percent and 36 percent, respectively, against GMA’s 25 percent and 31-percent share. ABS- CBN also attracted more viewers than GMA in other areas. It won the ratings game in Total Luzon with an average total-day audience share of 41 percent, versus GMA’s 34 percent; in Total Visayas with 55 percent versus GMA’s 24 percent; and in Total Mindanao with 52 percent, versus GMA’s 28 percent. ABS-CBN also claimed it fared better against GMA in all time blocks. In the morning block it scored an average share of 39 percent versus its rival’s 29 percent; while maintaining its lead in the noontime block at 46 percent versus the competition’s 32 percent, and the afternoon block at 47 percent versus its rival’s 33 percent. It also sustained a 48-percent share in the prime-time block versus the Gozon-led network’s 31-percent share. The prime-time block is the most important part of the day when most Filipinos watch TV and advertisers put a larger chunk of their investment in to reach more consumers effectively. GMA bases its claims to leadership from Nielsen data, which has a nationwide sample size of 3,500 urban and rural homes. T he L opez-led net work sources its data from Kantar Media, which uses a nationwide panel size of 2,610 urban and rural homes that represent 100 percent of the total Philippine TV viewing population.

A I WA N E SE f i r m C a l Comp Technology (Philippines) Inc. has refiled its registration statement with the Securities and Exchange Commission (SEC), hoping to become public also before end of the year. Cal-Comp in its filing said it will offer some 371.42 million shares for its primary offering with an overallotment option of 55.71 million secondary shares for up to P25 apiece, or raising a total of P10.68 billion. The company expects to net P8.8 billion from the maximum offer, 40 percent of which will be used for facilities expansion, 30 percent for capital expenditure, 15 percent for debt repayment, 12 percent for research and development and 3 percent for working capital. Proceeds from the overallotment option amounting to P1.32 billion will go to the selling shareholder Kinpo International (Singapore) Pte. Ltd. Cal-Comp has tapped BDO Capital and Investment Corp. and Maybank Kim Eng Securities Pte. Ltd. as the joint global coordinators, joint bookrunners, and joint domestic lead underwriters. Maybank Kim Eng is also the international lead underwriter.

About 70 percent of the primary offering will be sold to overseas and to Philippine institutional investors while 30 percent will be offered through the trading participants of the Philippine Stock Exchange (PSE) and to local small investors. Last year, Cal-Comp had hoped to raise P6.77 billion from the sale of 378.07 million primary shares to fund its planned facilities expansion, acquisition of new equipment, and research and development. It, however, pulled the plug on its IPO after the fall of stock prices with the main index went into the bear territory, or a decline of at least 20 percent. According to its timetable, if the SEC and the PSE approve its papers, it will start its offer period on November 4 to run through November 11 and list its new shares on November 18. New Kinpo Group is the parent firm of Cal-Comp, a maker of mainly external hard disk drives. The company’s expansion program will entail the construction and development by its unit Kinpo Electronics (Philippines) Inc. for the third phase of its Lima manufacturing complex in Lipa, Batangas, which will add approximately 25,000 square meters of manufacturing space.

Companies BusinessMirror

Wednesday, September 4, 2019

PSE STOCK QUOTATIONS

September 3, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED 56 56.95 56.95 56.95 56.95 56.95 280 15946 142 145 146 146.9 142 142 1463960 210691580 BDO UNIBANK BANK PH ISLANDS 86.95 87 87 87.5 86.8 87 1438980 125215322 CHINABANK 25.85 25.9 26.2 26.2 25.85 25.9 609300 15798730 12.04 12.1 12.08 12.2 12.04 12.1 212900 2577884 EAST WEST BANK METROBANK 70.45 70.5 70.5 71.1 70.5 70.5 2049550 145044129 PBCOM 20.8 22.45 22.45 22.45 22.45 22.45 200 4490 45.85 46.25 46.9 46.9 45.8 46.25 108200 5007335 PHIL NATL BANK PSBANK 56.35 58 57.9 58.2 56.05 58.2 3040 174415 RCBC 27.5 28 27.5 28 27.3 28 10400 284405 200 205 198.2 205 195 205 680470 137332567 SECURITY BANK UNION BANK 59.15 59.85 60 60 59.05 59.15 28150 1666000.5 BRIGHT KINDLE 1.16 1.19 1.17 1.17 1.15 1.15 126000 146210 18.2 18.6 18.4 18.6 18.2 18.2 20100 373800 COL FINANCIAL FERRONOUX HLDG 4.76 4.81 4.81 4.81 4.76 4.81 214000 1024090 IREMIT 1.22 1.25 1.24 1.24 1.22 1.23 81000 99410 0.93 0.95 0.94 0.99 0.93 0.93 438000 417110 NTL REINSURANCE PHIL STOCK EXCH 184 187 185 187 184 187 880 163270 SUN LIFE 1725 1785 1721 1790 1721 1790 685 1179230 1.1 1.11 1.11 1.11 1.11 1.11 44000 48840 VANTAGE INDUSTRIAL

-8011080 -10894854.5 -6193660 696662 -41271650.5 -2042415 -35490 45508480 -1040006.5 8950 -

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 CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA LMG CHEMICALS PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.32 37.45 0.245 26.5 82.25 362.4 21.9 5.06 4.32 2.75 10.82 31.95 7.18 15.2 13.5 5.62 8.92 7.25 89.95 0.68 50 230.8 8.31 13.42 0.188 1.9 12.3 1.55 5.1 2.02 0.126 167.5 1.16 2.43 73 78 3 6 15.02 9.95 14.6 18.94 9.02 1.05 1.22 110 2.03 5 5.08 30.05 2.17 8.06 1.55 5.25 1.08 10.32

1.34 37.6 0.247 26.8 82.5 363 22 5.09 4.39 2.76 11 32 7.2 15.4 13.64 5.7 9 7.29 90 0.69 50.45 231 8.6 13.86 0.199 1.92 12.38 1.6 5.13 2.1 0.128 170 1.17 2.58 74 79 3.01 6.06 15.1 9.99 14.9 18.96 9.2 1.06 1.24 119.6 2.04 5.05 5.09 30.5 2.2 8.1 1.6 5.29 1.12 10.38

1.3 37.25 0.249 26.65 82.6 362.2 22.45 5.02 4.4 2.81 10.86 32 7.22 15.3 13.56 5.62 9 7.25 90 0.7 49.8 235 8.4 14 0.185 1.92 12.46 1.6 5.15 2.11 0.128 170.3 1.19 2.45 73.7 80 3.12 6.02 15.16 10.18 14.9 18.96 9 1.06 1.26 110 2.05 5.1 5.06 32 2.17 8.2 1.59 5.3 1.07 10.2

1.34 37.7 0.249 27.55 83.35 364.4 22.45 5.09 4.4 2.82 11 32.35 7.24 15.46 13.7 5.7 9.1 7.35 90 0.7 50.85 235.4 8.4 14 0.199 1.94 12.6 1.6 5.15 2.11 0.128 170.3 1.19 2.45 74 80 3.12 6.12 15.18 10.18 14.9 19.08 9 1.09 1.26 110 2.05 5.1 5.1 32 2.2 8.2 1.6 5.3 1.12 10.68

1.3 37.2 0.24 26.5 82.15 362.2 21.85 5.02 4.39 2.7 10.82 31.7 7.14 15.1 13.5 5.5 8.9 7.24 89.55 0.68 49 231 8.36 13.4 0.185 1.86 12.3 1.55 5.1 2.1 0.128 167.5 1.15 2.43 73 77 2.92 6.01 15.06 9.85 14.5 18.74 9 1.04 1.19 110 2.04 4.95 5.01 30.5 2.13 8.05 1.55 5.3 1.06 10.04

1.34 37.45 0.247 26.5 82.25 363 21.9 5.06 4.39 2.75 11 32 7.2 15.4 13.5 5.7 8.92 7.25 90 0.69 50 231 8.36 13.42 0.199 1.92 12.3 1.55 5.1 2.1 0.128 167.5 1.16 2.43 74 78 3 6.12 15.1 9.95 14.9 18.94 9 1.06 1.24 110 2.04 5 5.08 30.5 2.2 8.06 1.6 5.3 1.12 10.38

2018000 806400 1650000 5269000 52720 134310 769300 505900 2000 11606000 63600 1979900 54500 365200 2363300 113100 616400 2313100 155390 762000 100290 553680 3500 151000 220000 11308000 107700 305000 1600 38000 30000 850000 3088000 73000 2590 1080 16158000 4400 13100 113000 1096000 3029400 1300 560000 6199000 10 126000 29500 174200 254200 10487000 195300 75000 700 240000 242200

2624100 30201620 405540 142657315 4356026 48758892 16917660 2552823 8790 32138430 696138 63402570 392435 5604398 31983654 640628 5524407 16898454 13983907 522160 5012081 128567490 29314 2052346 41960 21565800 1331942 473650 8191 79840 3840 143657904 3591200 177610 189629 83952.5 48339870 26805 197678 1123627 16177500 57766134 11700 596680 7518480 1100 257290 147015 879039 7767265 22881860 1586168 117450 3710 259610 2507228

-18291100 6066360 -608327.5 35307562 -11391360 -494119.9997 -52450 -33717225 956038 -8838430 -475180 -2092388 -5566663 -5472966 3568476.5 -8808800 -11752 1295010 -1222158 15600 -106420001 49350 150660 6079990 27156 78054 5898014 330948 104270 42297.9998 -1590555 -238760 -638486.0001 7750 36166

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES SEAFRONT RES WELLEX INDUS ZEUS HLDG

0.83 14.62 900 53.05 12.44 3.48 6.9 0.77 1.24 1.26 6.7 8.8 13.5 0.236 912 5.95 70 5.25 5.1 0.49 4.59 14.62 0.64 4.9 0.038 1.32 2.85 1.29 994 176.5 0.85 2.4 0.231 0.248

0.84 15.1 910 53.1 12.54 3.5 7 0.78 1.25 1.28 6.73 8.85 13.7 0.246 913 6.19 70.2 5.95 6.09 0.5 4.61 14.7 0.66 4.91 0.039 1.34 2.9 1.3 1005 177.9 0.86 2.6 0.235 0.255

0.84 15.5 923 53.1 12.9 3.52 7 0.8 1.24 1.28 6.73 9.1 13.74 0.236 912 5.98 71.55 5.84 7.11 0.5 4.62 14.7 0.66 4.98 0.039 1.34 2.87 1.29 1013 178 0.85 2.41 0.231 0.25

0.86 15.58 929 53.5 12.9 3.54 7 0.8 1.26 1.28 6.76 9.24 13.74 0.246 917.5 5.98 71.75 6.7 7.13 0.5 4.62 14.78 0.66 4.99 0.039 1.39 2.9 1.31 1035 178 0.88 2.41 0.231 0.255

0.8 14.6 900 52.85 12.44 3.44 6.9 0.74 1.23 1.26 6.64 8.8 13.6 0.236 897 5.95 70 5.21 6.09 0.49 4.52 14.58 0.63 4.87 0.038 1.31 2.87 1.29 994 176 0.84 2.41 0.229 0.247

0.84 15.1 900 53.1 12.44 3.48 6.9 0.78 1.25 1.28 6.7 8.8 13.7 0.246 912 5.95 70 5.97 6.09 0.5 4.58 14.62 0.66 4.9 0.038 1.34 2.9 1.31 994 177.9 0.86 2.41 0.229 0.247

27562000 40800 391690 1064860 7399300 1873000 381400 6107000 2003000 371000 737000 9383500 152000 340000 41820 37900 1153860 143300 90000 4000 692000 387700 836000 6113000 5600000 763000 71000 39000 196520 17910 399000 4000 640000 2990000

22567320 611952 354716760 56519067 93037206 6513730 2667568 4673810 2488550 470700 4941478 83541319 2081978 80340 38106380 226603 81134016 877777 619320 1980 3175080 5679920 541690 29982420 214000 1017140 205150 50600 198306870 3176773 339810 9640 147210 744700

625540 15300 -255746065 -40464815 -47977398 -1603760 -402860 1634126 -38933357 -1631668 8982440 -218868 -14925732 -2827130 -35052 -5052550 11400 1903625 297239 -

HOLDING & FRIMS

PROPERTY ARTHALAND CORP 0.89 0.9 0.89 0.92 0.88 0.9 2334000 2085280 -121560 9.72 9.8 9.99 9.99 9.71 9.8 6600 65235 ANCHOR LAND AYALA LAND 47.25 47.3 47.5 47.8 47.1 47.3 10370000 491416085 -73443140 ARANETA PROP 1.87 1.88 1.85 1.88 1.85 1.88 245000 458000 2.17 2.19 2.2 2.2 2.17 2.19 70000 152770 -2120 BELLE CORP A BROWN 0.8 0.81 0.79 0.83 0.79 0.81 1661000 1352490 CITYLAND DEVT 0.87 0.88 0.85 0.88 0.85 0.88 13000 11380 0.226 0.233 0.226 0.235 0.226 0.233 1570000 358450 CROWN EQUITIES CEB LANDMASTERS 4.64 4.65 4.64 4.69 4.64 4.65 128000 595690 37200 CENTURY PROP 0.55 0.57 0.56 0.57 0.55 0.57 7158000 4003520 -3419.9999 0.43 0.435 0.42 0.455 0.41 0.43 2980000 1312950 40700 CYBER BAY DOUBLEDRAGON 20.9 21.1 21.25 21.3 20.9 20.9 977200 20600020 3783595 DM WENCESLAO 9.2 9.39 9.48 9.48 9.2 9.2 308200 2838101 14674 0.455 0.465 0.46 0.465 0.455 0.465 30000 13800 EMPIRE EAST FILINVEST LAND 1.63 1.64 1.64 1.65 1.63 1.64 18387000 30125100 1697170 GLOBAL ESTATE 1.26 1.27 1.28 1.28 1.26 1.26 794000 1005540 15.32 15.34 15.38 15.42 15.3 15.34 588200 9032420 -4002664 8990 HLDG PHIL INFRADEV 1.39 1.4 1.4 1.42 1.36 1.39 2301000 3178870 13899.9999 CITY AND LAND 0.73 0.74 0.73 0.74 0.72 0.74 55000 40150 720 5.09 5.1 5.1 5.2 5.04 5.1 31125000 158808528 8792864 MEGAWORLD MRC ALLIED 0.32 0.325 0.32 0.325 0.32 0.325 5670000 1827200 PHIL ESTATES 0.46 0.475 0.465 0.465 0.46 0.46 100000 46100 2.3 2.31 2.1 2.59 2.05 2.31 13008000 30116430 774170 PRIMEX CORP ROBINSONS LAND 24.3 25.4 25.4 25.75 24.3 24.3 1282400 32055805 4975400 PHIL REALTY 0.39 0.41 0.4 0.4 0.4 0.4 10000 4000 2.36 2.37 2.31 2.38 2.31 2.36 190000 448920 ROCKWELL SHANG PROP 3.21 3.3 3.3 3.31 3.22 3.29 79000 258160 STA LUCIA LAND 2.43 2.44 2.44 2.48 2.44 2.44 635000 1557200 34.1 34.5 35 35 34.1 34.1 18809000 651,832,7454 5319289.9999 SM PRIME HLDG STARMALLS 5.65 5.7 5.7 5.8 5.64 5.64 84500 479659 SUNTRUST HOME 0.91 0.93 0.88 0.93 0.88 0.93 506000 456160 7.6 7.62 7.71 7.71 7.6 7.62 3490500 26603460 -16017612 VISTA LAND SERVICES ABS CBN 20.8 21 20.7 22 20 21 641600 13536510 5.34 5.4 5.32 5.4 5.29 5.4 678600 3640521 GMA NETWORK MANILA BULLETIN 0.45 0.47 0.44 0.45 0.44 0.45 150000 66450 GLOBE TELECOM 1988 1998 2008 2008 1972 1988 13660 27162775 5792680 1148 1156 1164 1184 1148 1148 76175 88316315 -46868280 PLDT APOLLO GLOBAL 0.046 0.048 0.047 0.048 0.047 0.048 6000000 287200 DFNN INC 5.8 6 5.8 5.8 5.8 5.8 5000 29000 1.85 2.05 1.84 2.05 1.84 2.05 6000 12090 IMPERIAL ISLAND INFO 0.109 0.11 0.112 0.112 0.109 0.109 7300000 800110 38400 ISM COMM 5.11 5.12 5.24 5.24 5.05 5.12 1805400 9269286 112428 2.91 3 2.91 2.91 2.91 2.91 13000 37830 JACKSTONES NOW CORP 3.31 3.33 3.18 3.39 3.11 3.31 6765000 21763270 429910 TRANSPACIFIC BR 0.365 0.37 0.37 0.375 0.36 0.365 4820000 1765000 -127750 3.09 3.13 3.15 3.15 3 3.13 980000 3021620 -219820 PHILWEB 2GO GROUP 10.24 10.4 10.7 10.7 10.24 10.24 16400 170782 10500 ASIAN TERMINALS 18.26 19.8 19 19.8 19 19 3400 64680 7.21 7.22 7.34 7.34 7.13 7.22 1049000 7566509 215334 CHELSEA CEBU AIR 94.95 96 96.25 96.3 94 96 140520 13334105.5 -2125430 INTL CONTAINER 130.2 131.2 134 134 129.4 130.2 728810 94970374 -16969390 13.52 14.6 14 14 14 14 100 1400 LBC EXPRESS LORENZO SHIPPNG 0.91 0.92 0.94 1.06 0.88 0.92 15541000 15246440 149030 MACROASIA 18.9 19 19.1 19.1 18.9 18.9 20600 391092 -30328 1.14 1.18 1.16 1.16 1.13 1.14 32000 36570 METROALLIANCE A PAL HLDG 8.1 8.4 8.47 8.47 8 8 6500 54098 HARBOR STAR 1.77 1.78 1.86 1.86 1.77 1.78 2471000 4431400 1.5 1.6 1.59 1.6 1.55 1.6 66000 105190 ACESITE HOTEL BOULEVARD HLDG 0.057 0.059 0.058 0.058 0.057 0.057 9450000 541210 WATERFRONT 0.68 0.69 0.7 0.7 0.68 0.69 1708000 1172980 6.6 6.95 6.62 6.62 6.6 6.6 3000 19839 CENTRO ESCOLAR IPEOPLE 9.22 9.63 9.23 9.63 9.22 9.63 21500 198280 STI HLDG 0.69 0.7 0.7 0.7 0.69 0.69 340000 236020 2.37 2.4 2.37 2.42 2.36 2.4 188000 449830 BERJAYA BLOOMBERRY 10.3 10.34 10.42 10.44 10.22 10.3 1806700 18612330 -15356596 PACIFIC ONLINE 2.69 2.7 2.74 2.74 2.69 2.7 197000 532490 -2740 3.04 3.05 3.12 3.12 3.04 3.05 932000 2877000 -1234750 LEISURE AND RES MANILA JOCKEY 3.11 3.21 3.1 3.11 3.1 3.11 9000 27930 PH RESORTS GRP 4.76 5 4.6 5 4.6 5 2400 11384 0.69 0.7 0.69 0.71 0.69 0.69 239000 166830 -6910 PREMIUM LEISURE TRAVELLERS 5.45 5.46 5.45 5.46 5.45 5.46 1366300 7446835 -225630 METRO RETAIL 2.4 2.42 2.51 2.51 2.4 2.4 2529000 6122650 -30290 43.8 44.15 43.75 44.15 43.75 43.8 1340800 58835860 -873425 PUREGOLD ROBINSONS RTL 75 78.1 77.05 78.5 75 75 168050 12623182.5 2455544 PHIL SEVEN CORP 136.6 143.5 136 143.5 136 143.5 260 35495 1435 2.79 2.8 2.78 2.82 2.71 2.8 2364000 6591800 1388460 SSI GROUP WILCON DEPOT 16.72 16.76 16.8 16.88 16.5 16.76 455800 7631922 5925198 APC GROUP 0.63 0.64 0.6 0.66 0.6 0.64 69979000 44386420 -1179100 9.9 9.95 9.9 10 9.76 9.9 126100 1236548 EASYCALL GOLDEN BRIA 435 445 449.6 449.6 435 435 330 146696 4450 PAXYS 2.81 3.02 2.8 2.8 2.8 2.8 15000 42000 0.58 0.59 0.6 0.64 0.57 0.59 48153000 29014760 -567260 PRMIERE HORIZON SBS PHIL CORP 9.12 9.37 9.3 9.3 9.3 9.3 2000 18600 MINING & OIL ATOK 11.6 12 12 12 12 12 1200 14400 1.23 1.24 1.25 1.26 1.23 1.24 1887000 2341980 APEX MINING ABRA MINING 0.0017 0.0018 0.0017 0.0018 0.0017 0.0018 32000000 54500 ATLAS MINING 2.56 2.58 2.57 2.68 2.56 2.56 387000 994110 -850600 1.2 1.26 1.18 1.35 1.18 1.2 301000 374960 BENGUET A BENGUET B 1.15 1.29 1.29 1.3 1.29 1.3 60000 77860 COAL ASIA HLDG 0.28 0.285 0.285 0.285 0.285 0.285 440000 125400 2.72 2.74 2.68 2.74 2.68 2.74 747000 2026000 CENTURY PEAK DIZON MINES 7.81 7.87 7.88 7.88 7.81 7.81 800 6273 FERRONICKEL 1.89 1.9 1.7 1.98 1.69 1.9 228850000 417280160 169123930 0.22 0.225 0.223 0.225 0.219 0.221 3130000 694150 22380 GEOGRACE LEPANTO A 0.11 0.114 0.11 0.114 0.11 0.114 1660000 185600 LEPANTO B 0.115 0.119 0.115 0.119 0.115 0.119 50000 5790 0.0098 0.01 0.01 0.01 0.0096 0.01 7000000 69930 MANILA MINING A MANILA MINING B 0.01 0.012 0.01 0.012 0.01 0.012 5500000 61400 MARCVENTURES 1.18 1.22 1.33 1.42 1.17 1.18 16618000 21620350 122100 1.11 1.14 1.18 1.24 1.08 1.14 2020000 2379910 NIHAO NICKEL ASIA 4.49 4.5 4.3 5.1 4.22 4.5 329120000 1534089060 246793340 ORNTL PENINSULA 0.93 0.94 0.91 0.96 0.91 0.93 10350000 9634900 37600 3.95 3.96 4.06 4.2 3.89 3.96 7150000 29,093,290( 8,412,410.0003) PX MINING SEMIRARA MINING 23 23.1 23 23.1 22.9 23 433600 9971720 -8101100 UNITED PARAGON 0.0064 0.0069 0.0068 0.0069 0.0068 0.0069 12000000 82600 0.011 0.012 0.012 0.012 0.011 0.012 17600000 207900 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 3200000 38400 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 2500000 27500 9.11 9.12 8.36 9.12 7.71 9.11 5221000 45183715 121455 PHINMA PETRO PXP ENERGY 10.32 10.34 11.5 11.52 10.28 10.32 6166800 65727916 -3093142 PREFFERED HOUSE PREF A 97.35 99.9 97.7 97.7 97.3 97.4 32390 3154026 500 504 504 504 504 504 10 5040 AC PREF B2 DD PREF 100.9 101.2 100.7 100.7 100.7 100.7 1000 100700 SMC FB PREF 2 990 995 990 990 990 990 1110 1098900 105.6 107.5 105.6 105.6 105.6 105.6 1500 158400 FGEN PREF G GLO PREF P 495 500 500 500 500 500 20 10000 LR PREF 0.99 1 1 1 1 1 60000 60000 101 101.3 101.3 101.3 101.3 101.3 30 3039 MWIDE PREF PNX PREF 3A 100.2 103 100.2 100.2 100.2 100.2 1000 100200 PNX PREF 3B 108 109 108 108 108 108 90 9720 996 1020 996 996 996 996 200 199200 PCOR PREF 2A PCOR PREF 3A 1030 1035 1030 1035 1030 1030 30 30975 PCOR PREF 3B 1035 1040 1032 1040 1032 1040 720 748720 -738400 75.7 76.55 76.55 76.55 75.6 75.6 110 8344.5 SMC PREF 2B SMC PREF 2C 78.75 78.95 79 79 78.95 78.95 5780 456334.5 SMC PREF 2D 75.5 75.8 75.5 75.7 75.5 75.7 18000 1360000 76 76.2 76.2 76.2 76.2 76.2 48900 3726180 SMC PREF 2E SMC PREF 2F 75.85 77.5 77.5 77.5 75.75 75.75 49400 3790518.5 SMC PREF 2G 76.5 77 76.5 76.5 76.5 76.5 4230 323595 75.6 76.95 75.55 75.8 75.5 75.5 11000 831353.5 SMC PREF 2H PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

18.5 5.15

19.4 5.2

19.26 5.13

19.8 5.13

18.5 5.13

596700 300

11295706 1539

WARRANTS LR WARRANT

1.57

-8886028 -

1.62

1.57

1.6

1.57

1.6

10000

15880

ITALPINAS 6.31 KEPWEALTH 11.2 0.95 XURPAS

6.33 11.22 0.96

6.23 11.7 0.95

6.58 11.8 0.96

6.08 10.9 0.92

6.31 11.22 0.96

2862300 888900 1959000

17964683 10062720 1840370

-156063 498432 -290000

FIRST METRO ETF

117.2

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 117

118.4

118.9

117.2

4680

551420

11830

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Cavite LGU still working on Sangley airport project docs By Roderick L. Abad

Contributor

@rodrik_28

HE provincial government of Cavite has yet to comply with the requirements of the government regarding its P500-billion Sangley International Airport proposal, which is still pending at the National Economic and Development Authority (Neda).

“No complete documentation [as of now]. It’s not just feasibility study, but they have to do some financial and economic model. They have to submit a financial and economic model,” Socioeconomic Planning Secretary and Neda Director General Ernesto Pernia said. According to him, the Cavite local government unit (LGU) has yet to inform them when they will completely

submit the documents. He said the agency returned the proposal to the proponent. Pressed if Neda gave a deadline to the Cavite government, the socioeconomic planning secretary said “it’s up to them.” The proposed aviation facility is seen as an important alternative for the Ninoy Aquino International Airport (Naia) to prevent a repeat of

the air transportation paralysis, such as what happened in 2018 when a Xiamen Airways plane crashed into the runway, forcing the closure of the airport. President Duterte ordered in June the transfer of General Aviation flights from Naia to Sangley Air Base to ease airport congestion in Metro Manila. Transportation Secretary Arthur Tugade earlier said the Cavite LGU could even team up with privatesector proponents to expedite the development of an international gateway in Sangley Point, Cavite. Aside from the provincial government of Cavite, Solar Group’s All-Asia Resources and Reclamation Corp. (ARRC) submitted a similar unsolicited proposal to develop Sangley into an international airport in 2016 at an estimated cost of $12 billion. “It is possible. There is nothing illegal about that [joint venture],” Tugade said when asked about the possible partnership between the two parties.

He explained that even the national government was collaborating with the private sector for different infrastructure projects under the public-private partnership program. The ARRC development plan’s critical part is the rehabilitation of the Danilo Atienza Air Base and its transformation into a general aviation airport to serve as an emergency alternative to the Naia during the development phase of the project. Per the proposal with a concession period of 50 years, the project will commence with the reclamation of about 2,500 hectares of land north of the Sangley peninsula. This will be used to develop the airport infrastructure and a commercial establishment to complement the project. Sangley Airport will be designed with two parallel runways and sufficient airside and terminal capacity to accommodate future demand for the domestic and the international traffic, not only for the Philippines but also for Southeast Asia.

Alsons unit shortlists 2 global firms for coal-fired power plant in Zambo By Lenie Lectura @llectura

AN Ramon Power Inc. (SRPI), a unit of listed Alsons Consolidated Resources Inc., has shortlisted two global construction and engineering contractors out of five companies that initially submitted bid proposals for the engineering, procurement and construction (EPC) of its 105-megawatt (MW) coal-fired power plant in Talisayan, Zamboanga City. The SRPI plant’s shortlisted EPC bidders are Northeast No.1 Electric Power Construction Co. Ltd. (NEPC), a wholly-owned subsidiary of China Energy Engineering Group; and Shandong Electric Power Construction Co. (Sepco III), a subsidiary of Power Construction Corp. of China. The two firms edged out three other multinational engineering and construction companies that bidded for the SRPI power plant contract. SRPI Project Manager Engr. Archimedes Donato earlier expressed satisfaction that up to five reputable firms with extensive international experience have submitted bid proposals for the plant. “The people of Zamboanga City and nearby areas can look forward to

a state-of-the-art baseload power plant right here in the city to provide safe, reliable and affordable electricity,” he said. Alsons Power Vice President for Project Development Joseph Nocos underscored Alsons Power’s commitment to bring the project to completion. “These bid submissions are a testimony to the keen interest the SRPI project has generated and are a vote of confidence in the future of Zamboanga City,” he pointed out. The plant, which will provide baseload power to Zamboanga City and nearby areas, is expected to begin operations in 2023. Alsons Power, Mindanao’s first and most experienced independent power producer, currently operates four bunker diesel and coal power facilities in the island with a total generating capacity of 363 MW serving key cities, such as Cagayan de Oro, Iligan, General Santos and Zamboanga. Alsons Power is also entering the renewable-energy sphere through run-of-river hydroelectric power projects with a total hydro capacity potential totaling more than 145 MW in Negros Occidental, Sarangani, Davao Oriental, Zamboanga del Norte, the two Agusan Provinces and Surigao del Sur.

COL narrows income decline in first half

NLINE stockbroker COL Financial Group Inc. said its income for the first half of the year slightly fell to P314.3 million, or some 2 percent lower compared with last year’s P322.2 million. The fall was narrower than the 13-percent decline in income growth that it saw during the first quarter of the year ending March, after coming from a higher base in 2018, mainly on active trading of potential third telco plays. Revenues for the first half ending June were also slightly down to P611.51 million, from last year’s P615.27 million. Net new flows also remained positive in the first half, as the company’s

clients continued to add money to their accounts. These clients invested regardless of the market conditions, investing throughout the positive territory in the first part of the year, and through the recent difficult market conditions due to global geopolitical concerns, the company said. “This year, we focused on providing our clients with more guidance so we can help them become better investors, especially amid the tough market conditions recently,” COL President and CEO Dino Bate said. “We also expanded our ways of reaching out to our customers online, making our guidance more targeted and relevant to clients’ different investing objectives,” he said. VG Cabuag

mutual funds

September 3, 2019

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 259.18 -2.44% -1.21% 0.29% 2.77% ATRAM Alpha Opportunity Fund, Inc. -a 1.5641 4.53% 3.35% 1.89% 8.56% ATRAM Philippine Equity Opportunity Fund, Inc. -a 4.0242 -3.84% -2.43% -0.95% 3.11% Climbs Share Capital Equity Investment Fund Corp. -a 0.9637 3.82% n.a. n.a. 6.96% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8611 -1.4% n.a. n.a. 4.92% First Metro Save and Learn Equity Fund,Inc. -a 5.4331 -1.66% -0.07% 0.53% 3.03% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8734 -0.7% -4.2% n.a. 4.39% MBG Equity Investment Fund, Inc. -a 117.44 0.32% n.a. n.a. 1.1% PAMI Equity Index Fund, Inc. -a 52.191 0.56% 0.15% n.a. 6.03% Philam Strategic Growth Fund, Inc. -a 543.39 1.09% -0.83% 0.18% 5.57% Philequity Dividend Yield Fund, Inc. -a 1.3148 0.1% 0.47% 1.54% 4.85% Philequity Fund, Inc. -a 38.6706 0.44% 1.26% 1.7% 5.56% Philequity MSCI Philippine Index Fund, Inc. -a,3 1.0347 n.a. n.a. n.a. n.a. Philequity PSE Index Fund Inc. -a 5.2992 1.39% 1.05% 2.2% 6.86% Philippine Stock Index Fund Corp. -a 884.64 1.41% 0.77% 2.14% 6.78% Soldivo Strategic Growth Fund, Inc. -a 0.918 2.96% -0.09% n.a. 6.74% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.3072 0.46% 0.8% 1.52% 6.12% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 1.0167 1.02% 0.73% n.a. 6.54% United Fund, Inc. -a 3.7147 0.51% 2.42% 2.7% 6.11% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c,2 118.6236 1.86% 1.62% 3.2% 7.11% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9342 -9.05% 1.41% -2.09% 0.55% Sun Life Prosperity World Voyager Fund, Inc. -a $1.283 -2.2% 7.13% n.a. 16.09% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6827 -1.64% -2.62% -2.29% 1.91% ATRAM Philippine Balanced Fund, Inc. -a 2.3128 -0.08% -0.97% 0.29% 4.69% First Metro Save and Learn Balanced Fund Inc. -a 2.6631 0.97% 0.13% -1.15% 4.72% Grepalife Balanced Fund Corporation -a 1.3508 -0.98% n.a. n.a. 3.57% NCM Mutual Fund of the Phils., Inc. -a 1.9627 3.91% 0.65% 1.28% 6.49% PAMI Horizon Fund, Inc. -a 3.8198 4.16% -0.32% 0.66% 8.23% Philam Fund, Inc. -a 17.1037 4.5% -0.27% 0.56% 7.52% Solidaritas Fund, Inc. -a 2.1555 1.57% 0.57% 1.64% 4.17% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.9029 2.86% 0.46% 1.18% 6.89% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,4 1.027 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,4 1.0155 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,4 1.0122 n.a. n.a. n.a. n.a. Sun Life Prosperity Dynamic Fund, Inc. -a 0.9971 2.58% 0.43% 0.74% 8.18% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03871 9.78% 2.28% 2.51% 9.66% PAMI Asia Balanced Fund, Inc. -a $0.9689 -3.11% 1.3% -1.71% 6.04% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.7515 1.52% 5.36% 2.69% 13.39% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.1188 4.18% 3.48% n.a. 10.77% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 353.79 3.78% 2.22% 2.33% 3% ATRAM Corporate Bond Fund, Inc. -a,1 1.9133 2.73% 0.07% -0.01% 2.91% Cocolife Fixed Income Fund, Inc. -a 3.0787 5.39% 5.36% 5.28% 3.45% Ekklesia Mutual Fund Inc. -a 2.2214 4.55% 1.36% 2.18% 4.33% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3503 5.9% 1.48% 1.73% 6.58% Grepalife Fixed Income Fund Corp. -a P 1.6078 0.99% -1.62% 0.25% 2.77% Philam Bond Fund, Inc. -a 4.3359 9.53% 0.78% 1.94% 10.62% Philequity Peso Bond Fund, Inc. -a 3.7467 7.47% 1.2% 1.77% 6.53% Soldivo Bond Fund, Inc. -a 0.9544 5.6% -0.21% n.a. 7.09% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0336 8.97% 1.86% 2.7% 9.68% Sun Life Prosperity GS Fund, Inc. -a 1.6811 8.89% 1.34% 2.23% 9.17% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $463.89 4.31% 1.82% 2.76% 3.45% ALFM Euro Bond Fund, Inc. -a Є220.37 3.26% 1.33% 1.57% 3.62% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1969 6.89% 2.04% 2.43% 6.32% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 4.44% 1.05% n.a. 4.44% Grepalife Dollar Bond Fund Corp. -a $1.7177 0.56% -2.08% 0.43% 1.63% PAMI Global Bond Fund, Inc -a $1.1061 6.52% -0.23% -1.49% 6.74% Philam Dollar Bond Fund, Inc. -a $2.4274 11.51% 1.86% 3.59% 11.82% Philequity Dollar Income Fund Inc. -a $0.0600911 5.75% 1.85% 2.04% 5.42% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1938 9.79% 1.14% 3.1% 11.2% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 124.54 4.1% 2.63% 2.07% 3.03% First Metro Save and Learn Money Market Fund, Inc. -a,5 1.0214 n.a. n.a. n.a. n.a. Philam Managed Income Fund, Inc. -a 1.2397 5.6% 2.4% 1.46% 4.89% Sun Life Prosperity Money Market Fund, Inc. -a 1.2526 3.92% 2.78% 2.16% 2.74% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0317 2.23% n.a. n.a. 1.56%

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."

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DepEd chief lists ‘biggest challenge’ for PHL education By Jovee Marie N. Dela Cruz @joveemarie

ESPITE a huge budget allocation for the Department of Education (DepEd), the agency on Tuesday admitted that the quality of basic education is still the country’s biggest challenge for the remaining years of the Duterte administration. During the 2020 national budget briefing of the DepEd, Education Secretary Leonor Magtolis Briones lamented that the quality of basic education in the country remains low. “The main challenge that we will address in the coming years will be the quality of education. Our largescale assessment results show that our learners are in the ‘low proficient’ level as we anticipate this to be confirmed in international assessments, such as the OECD [Organisation for Economic Co-operation and Development] program for international student assessment,” Briones said. “Our biggest challenge now is to address quality and translate this to improved results in large-scale assessment for 2020 onward,” she added. The DepEd said “low proficient” is the second lowest in the five-level proficiency of students, or equivalent to 25 points to 49 points. Briones said the agency will continue to address the access gaps in the country’s basic education by shifting its focus to upgrade the quality of education in the programs for the remaining years of the administration. “The years of investing in education has produced major improvements in access to education. However, our access interventions must now be more nuanced and carefully targeted according to the reasons for

not attending schools,” she added. For 2020, Briones said, the Department of Budget and Management has rejected its original budget proposal of P803.13 billion since only P550 billion was approved under the 2020 national budget. Of the DepEd’s 2020 P550-billion budget, P417 billion will go to personnel services, P86.54 billion for maintenance and other operating expenses and P46.8 billion for capital outlay. With the inclusion of Commission on Higher Education and Technical Education and Skills Development Authority, the budget for education sector for next year will reach to P673 billion. Moreover, Briones said the DepEd will implement initiatives to improve the dimension of learning outcomes to address the problem on quality of education. The DepEd chief added the department is currently reviewing the curriculum, including learning competencies and performance standards relative to cognitive demands. She said the agency will also take a closer look at curriculum in relation to developing foundational skills for reading, writing and numeracy in early grades. Briones also said for 2020, the DepEd has allocated P8.9 billion for computerization program, P1.89 billion for human-resource development, P2.7 billion for learning tools and equipment purchase, P963 million for purchase of textbooks and instructional materials and P1.2 billion for hiring of 10,000 new teachers next year. She added the DepEd has also allocated P36 billion for basic education facilities and P19.9 billion for the construction of new school buildings.

DENR welcomes leadership role for Pasig River rehab

HE Department of Environment and Natural Resources (DENR) welcomes the directive of President Duterte transferring the chairmanship of the Pasig River Rehabilitation Commission (PRRC) to the agency. “Of course, we welcome the decision of President Duterte transferring the chairmanship of the PRRC to the DENR. It only shows how serious the President is in addressing the pollution of our water bodies all over the country,” Undersecretary Benny Antiporda said. Duterte has signed Executive Order 90 on August 28 transferring the chairmanship of the PRRC from the Department of Budget and Management (DBM) to the DENR. Formed by virtue of an EO signed by former President Joseph Ejercito Estrada on January 6, 1999, the PRRC is primarily tasked to implement programs and projects aimed at reviving the polluted Pasig River.

The river connects the Laguna de Bay, the country’s largest freshwater lake and the Manila Bay, which is currently undergoing massive rehabilitation by a special task force headed by the DENR. “As you all know, the Pasig River connects the Laguna de Bay and Manila Bay. To effectively rehabilitate Manila Bay, all rivers that drains to Manila Bay must be cleaned and Pasig River is one of them,” Antiporda, Cimatu’s deputy spokesman and the DENR’s undersecretary for solid waste management and local government units concerns said. According to Antiporda, he expects the DENR chief to discuss the added task within the week. “I’ve already forwarded a copy of Malacañang’s order. By now, I think he has already read it,” Antiporda said. Antiporda said taking the lead in rehabilitating the Pasig River will be a big boost to the ongoing rehabilitation of Manila Bay. Jonathan L. Mayuga

Editor: Vittorio V. Vitug • Wednesday, September 4, 2019 B3

SBMA approves ₧5.03-billion investments in H1 2019 By Henry Empeño

Correspondent

UBIC BAY FREEPORT—Close to a hundred investment projects worth more than P5 billion were approved by the Subic Bay Metropolitan Authority (SBMA) in the first half of the year, as fresh infusions in leisure, logistics and general business sectors buoyed the business outlook in this growing trade hub. SBMA Chairman and Administrator Wilma T. Eisma said a total of 77 new investment and 21 expansion projects pushed Subic’s midyear haul in committed investments to P5.03 billion. This year’s investment figure represented an increase of 47 percent over the P3.43-billion yield from the 45 new projects and 10 expansions approved in the same period last year. The continuing growth, Eisma said, had resulted from the hard work of the agency to draw more investors

despite stiff global competition for foreign direct investments. In the recent Subic Labor Congress held at the Harbor Point Ayala Mall here, Eisma assured prospective workers of SBMA’s sustained investment promotion program. “The SBMA is working very hard to ensure jobs for local workers [and] more investor companies are coming to Subic,” Eisma said. “But we have to ensure that they get the right environment so that they will continue to bring their business here,” she added. Figures from the SBMA Business and Investment Group indicated that the Subic agency approved 41 new investment projects in the first quarter this year, with total investment commitments of P3.57 billion. On the other hand, the second quarter yielded 36 new projects worth a total of P902.1 million. Meanwhile, the SBMA greenlighted nine expansion projects

Chinese, Indian travelers with fake docs held at Naia

worth P515.3 million in the first quarter of 2019, followed by 12 projects worth P39.8 million in the second quarter. SBMA records also showed that the 77 new investment projects in the first half of 2019 yielded a projected employment total of 2,003, while expansion projects turned out 1,670 new jobs for a total of 3,673. Fol low i ng t he est abl ished trend, leisure projects comprised most of the new investments with 15 approvals in the first quarter and 14 in the second quarter for a total of 29 projects. Investments under general business garnered the secondmost number of approvals at 16, followed by logistics projects at 15, maritime and manufacturing at 11, and information and communications technology at six. Among the new investment projects, the proposal from Sinoinvest Resources Inc. for a P1.2-billion lei-

sure project was the biggest recorded from January to June this year. Next came Smart and Plan Subic Logistics and Development Corp. with a P1-billion commitment for another leisure venture; Arjuna Sand Trading Inc., with P628.9 million for a logistics project; Worldwide Grace Inc., with P515 million for general business; and Taiyo Subic Philippines Corp., with P392.5 million for a manufacturing project. The biggest among the approved expansion projects was that of Datian Subic Shoes Inc. w ith commitments at P316.6 million, followed by servomotor manufacturer Sanyo Denki Phils. Inc. at P119.6 million. Datian’s expansion project is also expected to turn out the most number of new jobs at 1,500, followed by Sinoinvest Resources with 500 new jobs; Juan Fong Industrial Corp., 305; and Philippines Easepal Technology with 270.

Government sets steel standard review By Elijah Felice E. Rosales

UMAN-TRAFFICKING syndicates seem to never run short of victims as indicated by the recent arrest at the premier airport of three foreign passengers with spurious travel papers. Bureau of Immigration (BI) division chief Grifton Medina said the aliens were intercepted separately last week in the departure areas of the Ninoy Aquino International Airport’s (Naia) Terminals 1 and 3. “They are now detained at our detention facility in Bicutan, Taguig, while undergoing deportation proceedings,” Medina reported to Commissioner Jaime Morente. “Afterward, they will be blacklisted and banned from reentering the Philippines.” He added that those arrested included two Chinese and an Indian national, all of whom were in possession of fake travel documents. One of the Chinese, identified as 49-year-old Huang Chenghua, was intercepted last August 30, before he could board a flight to Toronto. The passenger reportedly used a Mexican passport with a Canadian visa that was found to be a counterfeit. He also presented a fake Mexican voter’s ID. On the next day, the Immigration’s Travel Control Enforcement Unit chief Timotea C. Barizo reported that immigration agents at Naia Terminal 1 intercepted an Indian passenger named Mahipal, 25, who, likewise, attempted to leave with a fake Canadian visa on his passport. Barizo disclosed that the Indian national was also about to board a flight to Toronto when he was stopped by members of her unit. Meanwhile on August 16, immigration agents at the Naia Terminal 3 apprehended a Chinese national for using a stolen passport. Wang Wenjiang, 24, was arrested for assuming the identity of a certain Xu Shao Hong, whose passport was reported stolen and lost last October 24. He was about to board a flight to Jakarta when the immigration officers found that Wang’s passport registered a positive hit in the Interpol database, indicating he is a wanted person.

@alyasjah

HE Departments of Trade and Industry (DTI) and Environment and Natural Resources (DENR) will jointly review existing environmental standards used in steel making to address industry concerns about the proliferation of induction furnaces in the Philippines. Trade Secretary Ramon M. Lopez and Environment Secretary Roy A. Cimatu, in a meeting last Monday, agreed to tighten environmental standards on steelmaking to ensure the industry produces quality and safe steel products. As such, they decided to review the standards adhered to and production technologies used by manufacturers in their operations. “What we need in the country are modern, environmentally friendly technologies that will consistently produce quality products,” Lopez said in a news statement. The DTI and the DENR are particularly concerned with the reported prevalence of induction furnaces in the industry. In 2017 China, one of the world’s largest steelmakers, phased out and banned the use of induction furnaces, as they pollute the environment and produce low-grade steel products. “We do not want those pollutive induction furnaces to transfer to our country,” Lopez added. “This collaboration with DENR will help us in promoting industrial capacity building with the use of advance technology in steelmaking, while protecting our government. This is also a testament that as we drive economic growth, we encourage responsible businesses in the country,” he said. Steel manufacturers, led by the Philippine Iron and Steel Institute, have been insisting the government to implement a ban on the use of induction furnaces. According to Lopez, the DTI and the DENR are reviewing proposed regulations on the

use of secondhand equipment and machineries in steelmaking. Moreover, the agencies are studying the possibility of raising to the national government the approval of environmental compliance certificates (ECC) of heavy industries, such as steel and cement. The move, Lopez argued, will ensure ECC applications are reviewed comprehensively and quickly, as well as tighten the government’s monitoring of steelmakers with their compliance to environmental standards. The DTI and the DENR will put up technical working group tasked to align their policies and strategies in keeping steelmaking facilities complaint with environmental standards and product quality. Further, the TWG will evaluate the compliance of steel manufacturers utilizing online monitoring system linked to the environment department. The TWG will also review the proposed hike in penalties imposed on steel manufacturers violating environmental laws and regulations or the terms and conditions in the ECC. The trade chief, for his part, committed the DTI’s Bureau of Philippine Standards will keep its product standards competitive. He said the agency will review its Philippine Standard license certification scheme procedures for steel products and implement a more stringent monitoring at the retail level. According to the Global Steel Trade Monitor, the Philippines imported 9.1 million metric tons of steel last year, an 11-percent jump from 8.1 million MT in 2017. It imports huge volumes of steel from China, Russia and Japan. Overall, the country purchases steel from over 50 countries and territories. The country’s steel requirement jumped to 9.1 million MT in 2016 and to 9.5 million MT in 2017, from 4.2 million MT in 2015, as a result of the Duterte administration’s implementation of its multitrillion peso infrastructure program, which seeks to address the country’s lack of roads, bridges and connectivity facilities.

Manila banks on Beijing to expand manufacturing base–DTI chief Cop faces dismissal for alleged drug pushing

IGURES may be dissuading, but the country’s trade chief is banking on China to deliver huge sums of capital to the Philippines that should expand its manufacturing base. Trade Secretary Ramon M. Lopez said the government will strengthen its push for stronger economic and business relations with China following President Duterte’s fifth visit there last week. Lopez claimed Chinese investments are necessary for the economy, as they will inject the capital required to propel the manufacturing industry. These investments, he added, will provide the Philippines the capacity to produce for its own, reduce its dependence on imports and improve its export performance. “The Department of Trade and Industry [DTI] is committed to aggressively promote increased business with China. This is an important opportunity for promoting investments and partnerships in line with our Inclusive Innovation Industrial Strategy (i3s),” Lopez said in a news statement issued on Monday.

“Furthermore, this will increase capacities of our manufacturing base to serve the growing domestic demand, promote import substitution and to export more not only to China, but also to other markets,” he added. Based on records from the Philippine Statistics Authority, investments from China grew 69.21 percent to P713.95 million in the first quarter, from P421.93 million during the same period last year. However, this amount accounted for just 1.55 percent of total investments from foreign sources poured into the Philippines that quarter. In terms of investments, China is trailing the Netherlands, Japan, Thailand, the United States, Singapore and Taiwan, economies that accounted for bulk of the P45.98 billion flown into the Philippines in the first quarter. However, last year was a different story. At the peak of the trade conflict with the US, China’s investments to the Philippines jumped to P50.69 billion, from P2.33 billion in 2017. “Greater trade and investments engagements between our two nations will surely

help us to create the needed opportunities for our countrymen so they can attain a better life,” Lopez added. On the sidelines of the President’s visit to China, the DTI organized a business forum attended by 272 businessmen from Philippine and Chinese firms. These firms included business executives from steel, manufacturing, construction, mining, energy, electronics, tourism, as well as blockchain technology industries. During the forum, SteelAsia Manufacturing Corp. and HBIS Group signed a memorandum of understanding on the establishment of an integrated steel mill in Batangas, which is seen to support the Philippines in its bid to become a major producer of steel products by 2030. Tranzen Group and their Chinese partners also inked memoranda of agreement at the same forum. These deals indicated progress of their projects on Internet connectivity and emergency services, socialized housing, expressways and power plants. Elijah Felice E. Rosales

By Rene Acosta

@reneacostaBM

ATIONAL Police chief Directo General Oscar Albayalde reiterated on Tuesday his standing order to policemen to refrain from committing criminal acts, warning he would not hesitate to charge and boot out erring law enforcers from the service. He reissued warning following the arrest of a policemen during a drug bust conducted by the Philippine National Police (PNP) Integrity Monitoring Enforcement Group (IMEG) and the Philippine Drug Enforcement Agency (PDEA). Pat. Leo D. Valdez, assigned at the Regional Mobile Force Battalion of the National Capital Region Police Office, was arrested on Monday after he allegedly sold a sachet of shabu worth P1,000 to a police poseur-buyer. Also recovered from his possession during the operation along the PNR site, Marquez Compound, Barangay Putatan, Muntinlupa City, were four transparent heat sealed sachets containing suspected shabu. During a news briefing, Albayalde said the drug bust stemmed from an intelligence packet devel-

oped by IMEG based from various reports on the rampant involvement of Valdez in drug pushing and use of drugs in the area. “Validation conducted revealed that subject… has long been involved in illegal drugs,” Albayalde said. The PNP chief said Valdez entered the service in 2007, but went on absence without leave in 2014 due to alleged use of illegal drugs. He was restored in the service in 2017. Recently, however, the policeman was reportedly monitored and caught on video sniffing shabu on two occasions by IMEG and PNP Intelligence Group informant, which prompted the conduct of the operation. Valdez was brought and placed under the custody of IMEG for further investigation and proper disposition prior to the filing of appropriate administrative and criminal charges against him.

Agriculture/Commodities

Wednesday, September 4, 2019 • Editor: Jennifer A. Ng

BusinessMirror

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DA eyes stringent nontariff options to limit rice imports By Jasper Emmanuel Y. Arcalas

@jearcalas

he Department of Agriculture (DA) on Monday said it is mulling over the use of more nontariff measures (NTMs), such as stringent sanitary and phytosanitary (SPS) requirements, to regulate the entry of imported rice. This is, the DA said, will help farmers cope with the drop in farmgate prices of unhusked rice due to the influx of cheap imports following the effectivity of a law which eased import restrictions. Agriculture Undersecretary Ariel T. Cayanan said the DA is now looking into the NTMs and other measures that it can implement to deter the entry of more rice imports. Bringing down the maximum residue limit (MRL) for pesticide content of imported rice to nearly zero and requiring shipments to undergo pest risk analysis are among the NTMs being considered by the DA. “The DA is now also study-

ing the implementation of NTMs. Generally these are sanitary and phytosanitary measures, including preborder protection starting from the country of origin,” Cayanan said during a House Committee on Agriculture and Food hearing on the implementation of the rice trade liberalization law. “We have to strengthen and make our measures for market access more stringent before they could export here. What’s wrong with an MRL approaching to zero, pest risk analysis and [requiring] traceability? If we strengthen our regulations and they are unable to access our market, then they won’t be really able to export [rice],” he added.

Cayanan said the DA may tighten accreditation rules and the issuance of SPS import clearance (IC) to interested rice importers by requiring pertinent food safety certifications. “In the case of country of origin [of shipments], we can intensify how we scrutinize eligible rice exporters to our country because we do not want pests to come in,” he said. Cayanan said the Philippines will not violate any international agreements if the government pushes through with the implementation of stringent requirements. He said the government will do this to ensure that food imports are safe for human consumption and that the local rice industry is protected from pests. “Other countries are implementing such NTMs, like [zero MRL] in Japan and South Korea,” he said. “We are just making our requirements more stringent [due to food safety reasons and concerns].”

Import protocol

In a separate statement issued by the Philippine Chamber of Agriculture and Food Inc. (Pcafi) on Monday, Agriculture Secretary William D. Dar said he has instructed the Bureau of Plant Industry (BPI) to implement relevant SPS measures

and requirements prior to the issuance of ICs to rice importers. “We have asked the BPI to implement protocol in import regulations regarding pesticide residue, presence of storage pests before the issuance of SPS [certificate] for imported rice,” Dar said during a forum organized by Pcafi last Saturday. Dar said the DA is now studying the possibility of implementing trade remedies, such as special and general safeguards, to calibrate the entry of rice imports. Cayanan said the DA’s policy research service is also studying the possibility of slapping special safeguard duties and antidumping duties on rice imports. “If the imports are excessive, [the DA] will limit these. The DA will stop rice from its origin [especially] if it’s affected by bukbok,” he said. Farmers groups such as Federation of Free Farmers Inc. (FFF) have been urging the DA to impose trade remedy measures to prevent local planters and traders from incurring more losses due to the influx of rice imports. FFF appealed to Dar to slap antidumping duties on imported rice as rice farmers have lost at least P40 billion due to the 23-percent decline in palay prices. The group said the entry of at least 1.8 million metric tons (MMT) of rice after the effectivity of Republic Act 11203 has resulted in a supply glut and pulled down farm-gate prices. This forced traders to lower their quotations for local unhusked rice from farmers. “Many local traders could not unload their stocks from the previous season due to the large volume of imported rice in the market,” FFF National Manager Raul Q. Montemayor said in a statement in August. “Unless they find a way to free up their inventories, they will either stop buying palay, or they will buy at much lower prices in order to cover for anticipated trading losses. Either way, farmers will end up carrying the bag,” Montemayor added. He said trade remedies, such as safeguard measures and antidumping duties, will prevent rice planters and even traders from incurring more losses. “By raising tariffs, imports will become more expensive, thereby providing room for local traders to dispose of their stocks and buy again from farmers at higher prices,” he explained.

PNRI unveils plant growth promoter from seaweeds

Dr. Lucille Abad, chief of the Philippine Nuclear Research Institute’s chemistry research section and inventor of the plant growth promoter, explains the irradiation process at the launch of Vitalgro Carrageenan at the Bliss Hotel in San Fernando, Pampanga. ASHLEY MANABAT By Ashley Manabat @ashleymanabat

ITY OF SAN FERNANDO— The Philippine Nuclear Research Institute (PNRI) on Friday launched here a plant growth promoter (PGP) it has developed from seaweeds which could increase rice yields by as much as 30 percent. The PNRI said Vitalgro Carrageenan plant growth promoter contains phytohormone-like compounds that support the growth and development of crops. Dr. Lucille Abad, PNRI-Department of Science and Technology (DOST) chemistry research section head and also inventor of the product, said the product supports stem growth and allows the efficient absorption of plant nutrients. Abad said the PGP can increase rice yields by 15 percent to 30 percent. She said carrageenan came from seaweeds (known locally as guso or gulamang dagat) and is organic since it is edible. The seaweed was subjected to irradiation with gamma rays at the PNRI facility. “[The irradiation] was a slow process so if we irradiate 2,000 liters, it will last up to four days,” Abad said. “So now we achieve the same effect with the use of electron beam. This now allows us to go commercial.” Dr. Gil Magsino, agriculturist from University of the Philippines-

Los Baños (UPLB), conducted the pilot test in Pulilan, Bulacan, and gave insights on how it was done during his talk. Juliet Franciso, an agriculturist from Pulilan, Bulacan, also gave a testimony on the effectivity of the carrageenan technology. Francisco narrated that Typhoon Lando (inter nationa l name: Koppu) wreaked havoc on Bulacan just before harvest time when the field testing of the product was conducted. She said rice stalks that were sprayed with the Vitalgro Carrageenan remained upright compared to those in the devastated fields surrounding the test area. Wilfredo F. Sibal, DOST chief science and research specialist, said the seaweed-based PGP project kicked off when Engr. Mario G. Montejo was still science and technology secretary Sibal said field testing showed that carrageenan can increase rice yield, and provide pest and disease resistance to plants. He said the use of hybrid seeds, mechanical rice transplanter and the seaweed-based PGP can increase rice yields to as much as 200 cavans per hectare. “We are grateful to Dr. Abad of the PNRI for coming up with this research idea,” Sibal said. Claro Q. Torres, technical sales manager of Sunripe Agri Machineries Inc., said his company is the distributor of Vitalgro Carrageenan PGP.

DA extends aid to farmers in Ilocos region, Pangasinan By Cai U. Ordinario @caiordinario

armers and fishermen in the Ilocos region and Pangasinan received P1.2 bi l l ion wor t h of a ssist a nce in the form of machines and seeds f rom the Depar tment of Agriculture (DA) to boost their productivity. The DA said in a statement on Tuesday that irrigation facilities were also given to farmers and fishermen. They also received extension and training services for rice, corn, highvalue crops, livestock, organic agriculture, as well as a host of fisheries programs. “Agricultural ser vices and assistance from the DA must be set in place to help farming and fishing communities become globally competitive and resilient, amid the challenges and emerging issues of the industry,” Agriculture Secretary William D. Dar said.

Farmers and fishermen in Ilocos Norte received P287 million; Ilocos Sur, P173 million; La Union, P121 million; and Pangasinan, P628 million. The DA said these interventions are part of the President’s initiatives to ensure that government assistance is readily felt by small farmers and fishermen nationwide. This is also in line with the “New Thinking for Agriculture” that Dar introduced when he assumed office. Dar said he envisions a foodsecure Philippines with prosperous farmers and fishermen, dubbed as “Masaganang Ani at Mataas na Kita,” the battle cry of the administration under the DA chief ’s watch. When he assumed office, Dar said he is targeting to double farmers’ income in five years and grow agriculture production by at least 3 percent annually in keeping with President D uter te’s d i rec t ive of

improving the lives of Filipinos. Dar said the President had ordered him to boost the performance of the Philippine agriculture, which expanded by an average of only 1.1 percent in the past decade. He sa id fa r m produc t ion growth should be at least 3 percent to 4 percent to ensure ample food supply and meet the food requirements of the country’s population, which has been expanding at an annualized rate of 1.8 percent. The agriculture chief said h e w i l l p r i o r it i z e t h e i m p l e m e nt a t i o n o f p r o g r a m s which will be bankrolled by t he R ice Compet it iveness Enhancement Fund. The P10-billion fund was created by Republic Act 11203 to improve the competitiveness of the local rice sector. He also said he is keen on expanding areas planted with hybrid rice to boost the production of the staple.

The World BusinessMirror

Editor: Angel R. Calso

Iran warns of ‘strong step’ from atomic deal if Europe fails to offer new terms

EHR A N, Iran—Iran will “take a strong step” away from its 2015 nuclear deal with world powers if Europe cannot offer the country new terms by a deadline at the end of this week, a government spokesman said Monday as top Iranian diplomats traveled to France and Russia for last-minute talks. The comments from A li R abiei reinforced the Friday deadline Iran had set for Europe to offer it a way to sell its crude oil on the global market. Crushing US sanctions imposed after President Donald J. Trump withdrew the US from the deal have curbed Iran’s oil exports and sent its economy into freefall. In response, Iran has surpassed limits on nuclear enrichment set out in the accord in a bid to pressure Europe to find a way around the US sanctions. Iranian Foreign Minister Mohammad Javad Zarif was in Moscow, while his deputy traveled to Paris with a team of economists Monday in a renewed diplomatic push. The developments come after French President Emmanuel Macron surprised the Group of Seven summit in France by inviting Zarif last week. R abiei descr ibed Iran’s strateg y to jour nalists at Monday’s press conference in Tehran as “commitment for commitment.” “Iran’s oil should be bought and its money should be accessible to return to Iran,” Rabiei said. “This is the agenda of our talks.” It’s unclear what the terms of negotiation are. In theory, anyone caught buying Iranian crude oil would be subject to US sanctions and potentially locked out of the American financial market. An Iranian lawmaker on Sunday said France has proposed a $15-billion credit line in three phases to prepurchase Iranian oil, the semiofficia l Tasnim news agency reported. In exchange, Iran would halt steps it’s taken to break away from the deal and ret u r n to f u l l compl i a nce, lawmaker A li Motahari was quoted as saying. Negotiations continued as just last week the International Atomic Energy Agency confirmed that Iran’s stockpile of low-enriched uranium still exceeds the amount allowed by the so-called Joint Comprehensive Plan of Action, or JCPOA as the deal is known. The UN agency also said Iran continues to enrich uranium up to 4.5 percent, above the 3.67 percent allowed. Enriched uranium at the 3.67 percent level is enough for peaceful pursuits and is far

below weapons-grade levels of 90 percent. At the 4.5 percent level, the uranium can help power Iran’s Bushehr reactor, the country’s only nuclear power plant. It remains unclear what further step Iran could take, though it could involve restarting advanced centrifuges prohibited by the deal or further bumping up its enrichment of uranium. Iran insists the steps it has taken so far are easily reversible. “ We w ill announce implementation of the third step in a letter to the Europeans if the Europeans do not implement necessary measures by Thursday,” said Zarif in a Sunday inter view with Iran’s parliament news agency, Icana. Meeting in Moscow with his Russian counterpart Sergey Lavrov, Zarif reiterated that it was up to Europe to ensure the deal’s survival. Iran will “ be complying with its obligations in full when the Europeans comply with theirs in full,” Zarif told journalists. The nuclear deal is meant to keep Tehran from building atomic weapons in exchange for economic relief. It has been complicated by the unilateral withdrawal of the United States from the deal and Washington’s increased sanctions on Tehran, which have been taking a toll on the Iranian economy. That has left the other signatories—Germany, Britain, France, Russia and China— struggling to come up with enough incentives to keep Iran in the deal. “Iran is willing to give Diplomacy, Engagement and Dialogue another chance,” Iranian Foreig n Ministr y Spokesman Abbas Mousavi wrote on Twitter, but added t hat “O ppor t unit ies pass like clouds.” Meanwhile Monday, an Iranian oil tanker pursued by the US that has been traveling across the Mediterranean Sea is now off the coast of Tripoli in northern Lebanon. The ship-tracking web site MarineTraffic.com showed the Adrian Darya 1 moving slowly just outside the Lebanese territorial waters, after it had stood off the coast of Syria a day earlier. US Secretary of State Mike Pompeo has alleged the ship is bound for a refinery in Syria, which was the reason that authorities had seized the vessel off the coast of Gibraltar in July. The US has warned countries not to accept the Adrian Darya, which carries 2.1 million barrels of Iranian crude oil worth some $130 million. AP

China, US toil to set trade talks as tariffs erode trust

C In this July 7, 2019, photo, Iran’s government Spokesman Ali Rabiei speaks in a press briefing in Tehran, Iran. Iran will “take a strong step” away from its 2015 nuclear deal with world powers if Europe cannot offer the country new terms by a deadline at the end of this week, Rabiei said on Monday as top Iranian diplomats traveled to France and Russia for last-minute talks. AP/Ebrahim Noroozi

Wednesday, September 4, 2019

hinese and US officials are struggling to agree on the schedule for a planned meeting this month to continue trade talks after Washington rejected Beijing’s request to delay tariffs that took effect over the weekend, according to people familiar with the discussions.

Despite efforts by President Donald J. Trump to soothe financial markets and portray the talks as making progress, the world’s two biggest economic powers have yet to agree on basic terms of re-engagement, with mistrust on both sides. The date for a visit of Chinese officials to the US capital hasn’t been set, though that’s not necessarily a sign it still won’t happen, said the people, who asked not to be identified because the discussions are private. US equity futures fell on the news, touching their lows for the day. In conversations over the past week, the two sides have failed to agree on at least two requests— an American appeal to set some parameters for the next round of talks and a Chinese call to delay new tariffs, two of the people said. Trump went ahead anyway with tariffs on Sunday, doubling down on a strategy that seems to be having the opposite of the desired effect. Chinese state media reacted by signaling the government is ready to weather the economic

turbulence. Beijing then said it planned to file a complaint at the World Trade Organization against the US tariffs under the dispute settlement process, according to a Ministry of Commerce statement late Monday. “If the US truly wants to reach a mutually benefiting and win-win deal with China, some people in the US must honor the consensus, work in concert with the Chinese side and return to the right track with sincerity,” the state-run People’s Daily wrote in a commentary on Tuesday. “It is time the US administration reconsidered its poorly thought out China-bashing moves,” an editorial in the China Daily argued on Monday. “Working to secure a trade deal would be a more fruitful approach.” China’s commerce ministr y didn’t immediately respond to a request for comment about a meeting date. Some Trump administration officials are trying to keep talks from breaking down because global financial markets are moving with every positive and negative twist

in a trade war that looks likely to extend into Trump’s 2020 reelection campaign. The S&P 500 Index dropped 1.8 percent last month and US Treasury yields have plunged amid uncertainty that’s hurting American companies and starting to chip away at consumer confidence. “C hina is mov ing a long , we’re doing ver y well,” Trump told reporters over the weekend. “We are talking to China, the meeting is still on as you know, in September. That hasn’t changed—they haven’t changed it, we haven’t. We’ ll see what happens. But we ca n’t a l low China to rip us off anymore as a countr y.” T he US Trade Representative’s office didn’t immediately respond to requests for comment on the discussions. Trump has expressed frustration that the talks haven’t brought the sides closer to a deal, even threatening last week that if he can’t deliver a better agreement in the US’s economic relationship with China, then “ let’s not do business together. I don’t want to do business.”

Making excuses

His finger-pointing has extended beyond China. On Friday he lashed out at American businesses for complaining about the rising cost of the import taxes he has now placed on some $360 billion of Chinese imports, accusing them of bad cor porate management. The new 15 percent US duty on about $112 billion of Chinese products will hit Americans more

directly than an existing 25-percent tax on about $250 billion of goods, targeting consumer staples ranging from footwear and apparel to home textiles, as well as technology products like the Apple Watch. A separate batch of about $160 billion in Chinese goods—including laptops and mobile phones—will be hit with 15-percent tariffs on December 15. For their part, Chinese officials don’t want to be seen as succumbing to strong-arm tactics like tariffs and are wary about setting a meeting date because of Trump’s tendency to change tack via surprises on Twitter. Geng Shuang, a spokesman for China’s foreign ministry, told a briefing in Beijing on Monday that “the most important thing at present is to create the necessary conditions for continuing the trade talks between China and the United States.” China’s export-driven economy is more exposed to the trade war than the US, and the toll tariffs are taking is increasingly evident. The nation’s manufactur ing purchasing managers’ index dropped to 49.5, according to data released Saturday by the National Bureau of Statistics, with sub-gauges showing that domestic and new overseas orders contracted. The government isn’t sounding the alarm just yet. Late Sunday, the State Council, China’s cabinet, released a statement saying that overall risks are “controllable” and the economy is stable. At the same time, counter-cyclical adjustments in economic policy will be increased, according to the statement. Bloomberg News

Lam says she hasn’t resigned because it’s the easy way out H O

Oil holds loss on stalling trade talks and Opec output increase

ONG KONG—Hong Kong leader Carrie Lam said Tuesday she has never tendered her resignation to China over the anti- government protests that have roiled the city for three months. L a m wa s a s ke d re p e ate d l y at a news briefing about a Reuters report on Monday citing leaked audio of her telling business leaders recently that she would quit if she had a choice. “I have never tendered a resignation to the central people’s government. I have not even contemplated to discuss a resignation...the choice of not resigning was my own choice,” Lam told the news conference, when asked why Beijing refused to let her quit. “I know it is not going to be an easy path, and that’s why I have said that I have not given myself the choice to take an easier path and that is to leave.” Lam also slammed the recording and leaking of her comments from the private meeting as “unacceptable.” Lam was elec ted as Hong Kong’s chief executive by a pro-Beijing committee of Hong Kong elites, and the mainland government has spoken in suppor t of her government and the c i t y ’s p o l i c e f o rc e t h ro u g h o u t t h e sometimes-violent protests. The demonstrators who have filled parks and streets regularly since early June want democratic reforms to Hong Kong’s government and an independent inquiry into police ac tions against protesters. Lam has come under withering criticism for pushing an ex tradition bill that would allow Hong Kong residents to be sent to mainland China to stand trials. She has suspended

Hong Kong Chief Executive Carrie Lam reacts during a press conference in Hong Kong on Tuesday. AP/Jae C. Hong

the bill, but the protesters want it entirely withdrawn. Clashes between police and protesters have become increasingly violent, with demonstrators throwing gasoline bombs and rods at officers in fresh weekend protests. Authorities in turn have employed water cannons, tear gas, rubber bullets and batons. More than 1,100 people have been detained. La m s a i d Tu e s d ay t h at t h e “o n e China, two systems” formula when the former British colony was returned to China in 1997 would be upheld. The formula promised greater civil rights in Hong Kong than those afforded to m a i n l a n d C h i n e s e, b u t H o n g Ko n g residents have expressed worries those promises are eroding. She also said the Chinese government a l s o b e l i e ve s t h a t t h e H o n g K o n g government can overcome the conflict on its own, without any inter ference. Some have expressed fear the

Chinese militar y would crack down on the protests. Lam said she doesn’t know how long it will take to end the civil disobedience b u t t h at s h e re m a i n s co n f i d e nt o f restoring law and order. The mostly young protesters say that a degree of violence is necessary to get the government’s attention after peaceful rallies were futile. Lam’s administration wants the violence to first end before any fruitful dialogue can begin. Tens of thousands of students, clad in gas masks and hard helmets along with their formal school uniforms, b o yc o t t e d t h e f i r s t d a y o f c l a s s e s Monday as part of a citywide strike. Workers also participated in a rally at a public park adjacent to the government headquarters. The prolonged protests have hurt Hong Kong’s economy amid a slowdown in the Chinese economy and its trade war with the United States. AP

il held losses as the US and China’s inability to agree on a schedule for trade talks worsened demand pessimism, while data showed Opec producers raised output for the first time this year in August. Brent futures were steady in London after dropping 2.9 percent Monday. Chinese and US officials have yet to agree on the basic terms of reengagement after the latest round of tariff increases, with mistrust on both sides, according to people familiar with the discussions. Crude output from the Organization of the Petroleum Exporting Countries (Opec) climbed 0.7 percent in August from July, a Bloomberg survey showed, despite the group’s efforts to ease a glut. Nigeria and Saudi Arabia led the rise in Opec production last month, which was the first increase since the cartel and its allies started a new round of output cutbacks at the beginning of the year. Opec is struggling to prop up crude prices as the escalating US-China trade war weakens global demand and as American production continues to grow. “The festering US-China trade war is exerting downward pressure on oil prices,” said Vandana Hari, the Singapore-based founder of Vanda Insights. “Reports of Opec recording its first month-on-month output boost of 2019 in August is proving to be a double-whammy.” Brent for November settlement lost 2 cents to $58.64 a barrel on the ICE Futures Europe Exchange as of 7:30 a.m. in London after falling as much as 0.5 percent earlier. The contract lost $1.77 on Monday. West Texas Intermediate for October delivery declined 21 cents, or 0.4 percent, from Friday’s close to $54.89 a barrel on the New York Mercantile Exchange. Trades made in Monday’s session will be booked for settlement on Tuesday because of the US Labor Day holiday. The US benchmark crude traded at a $3.98 discount to Brent for the same month. Bloomberg News

B6 Wednesday, September 4, 2019

Robinsons Bank wins in the 2019 Global Business Outlook Awards with its Simplé Savings and DOS Mastercard

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

Daleon stages Symphony of Colors on September 23

LLOWING the painter to express various emotions without the constraint of forms found in objective reality, Abstract Art is one of the purest form of visual expression. It simply appeals to the senses just like a melody of music in the absence of lyrics. This is how a viewer would feel upon seeing the works of Antonio Daleon in his 6th Solo Exhibit entitled Symphony of Colors. His abstract paintings brings about positive emotions as if they are invoking happiness. Born in Lucena City on April 26, 1971, Antonio Pacheco Daleon III was sent to art competitions even at an early age. He moved to Manila for his college education and eventually

influenced by the artists of Rizal. His artworks were shown in numerous Art Exhibits including the "Unang Letra Three man Show" in Caracas, Venezuela organized by the Philippine Department of Foreign Affairs and the art shows held in Washington D.C. and New York, sponsored by the World Bank with fellow artist Irvyn Roxas. He co-founded the Unang Letra group of artists from Rizal with Adler Llagas and Angelito Florendo. Daleon says, "I work through an emotion of joy and optimism, deeply respecting nature, desiring to honor the God of the Holy Bible as the Greatest Artist." He has been exhibiting his works since 1990 in many Major Group Art shows and he will be holding his 6th one man art exhibit

entitled Symphony of Colors which will open on September 23, 2019, 6pm at Passion Arts Gallery, 4th Level, Bldg. A, SM Megamall, Mandaluyong, Metro Manila. Exhibit runs until September 16, 2019. For details you may contact 0935-878-6181.

FAM MNL AIMS TO END THE STIGMA ON MENTAL HEALTH. The mission of FAM Mnl is to promote mental health awareness through its products. Mental health needs coverage - this is why it needs to be included in the conversation. By bringing mental health into the conversation, it will create a platform that would encourage people to openly talk about their mental illness, connect with people, seek treatment, and even save lives. The first collection of FAM Mnl is called the Semicolon Collection. It is the first of a series of mental health awareness items and apparel that aim to end the stigma against suicide and depression. Visit FAM Mnl’s Facebook page at FAM Mnl and follow their instagram, @FAM_Mnl to find out more about its products, mission, future projects, and more. #GotchuFAM. It’s time to take a stand against the Stigma. The Semicolon Collection is already out now.

OBINSONS Bank (RBank) successfully bagged two (2) awards in the recent Global Business Outlook Awards 2019, achieving yet another milestone in its history. Putting value and convenience at the forefront of its services, RBank’s Simplé Savings earned recognition as the “Most Innovative Banking Product” and DOS Mastercard as the “Most Innovative Credit Card Product.” The Simplé Savings Account product was designed to provide ease to the unbanked market, allowing them the convenience to establish a productive relationship with the Bank. It offers no maintaining balance, requires P100 only for initial deposit, earns interest, and simplifies the KYC (KnowYour-Client) process using just one (1) valid ID from the client. The Robinsons Bank DOS Mastercard provides financial flexibility and unleashes a new wave of privileges and convenience in the world of shopping, dining, travel, and more. The unique 2-Gives feature of this credit card automatically splits all retail purchases into two monthly installments at 0% interest, with no minimum amount required. RBank’s Simple Savings Account and DOS Mastercard stand as testaments to the Bank’s commitment in making lives better and fulfilling its customers’ everchanging needs. Driven by its customer-centric culture, RBank has also drawn its path in offering digital banking solutions and pursues the development of new products and services such as its newly-launched IPONsurance,

a savings account with free insurance coverage. At present, RBank holds the rank of being the 18th largest commercial bank in terms of assets, with P120.8 billion as of March 2019 and has a thriving count of 149 branches and 291 ATM networks nationwide. For inquiries and concerns, you may reach Robinsons Bank through its Customer Care Center (C3) at 637-CARE (2273) or domestic toll-free 1-800-10637-CARE (2273); or go to its website at www.robinsonsbank.com.ph. Like them on Facebook at www.facebook. com/robinsonsbank/ and follow them on Twitter @RBankCorp.

Sports

Nadal looks good, and Woods approves N

EW YORK—Locked in a tight test at the US Open, Rafael Nadal conjured up an over-the-shoulder, back-to-the-net flick of a volley winner that he celebrated with a leap and punch of the air. If that wasn’t the shot of the match, then surely this was, a couple of points later: a crosscourt backhand passing winner off an overhead by his opponent, 2014 champion Marin Cilic, good enough to earn a yell and four fist pumps from Nadal—along with an uppercut from Tiger Woods in the Arthur Ashe Stadium stands. Then again, maybe it was the sprinting, sliding, bend-it-around-the-net-post forehand winner to get to match point, which Woods loved, too. Nadal is looking healthy and hungry at Flushing Meadows so far, and he quickly broke things open against Cilic by seizing nine consecutive games for a 6-3, 3-6, 6-1, 6-2 victory in the fourth round Monday night. Asked to explain that shot on the next-to-last point, Nadal chuckled a bit and said: “It’s easy to describe and difficult to make.” “I hit it well,” Nadal said, “but to hit that spot, of course you need some luck.” The 33-year-old Spaniard reached his ninth quarterfinal in New York and 40th at all major tournaments. The No. 2-seeded Nadal, who retired from his 2018 semifinal at the US Open with a knee injury, will try to get back to the final four by beating No. 20 Diego Schwartzman in the quarterfinals. Schwartzman advanced earlier Monday by

BusinessMirror

| Wednesday, September 4, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

eliminating No. 6 Alexander Zverev, 3-6, 6-2, 6-4, 6-3. Nadal is attempting to claim his fourth US Open championship and 19th Grand Slam trophy overall. Roger Federer holds the men’s record of 20 majors. The rivals never have played each other in New York; they only could meet in the final this year. Against Cilic, who entered Monday with a 5-0 mark in fourth-round matches at Flushing Meadows, everything turned shortly after Nadal ceded a set for the first time in the tournament. As it is, he only had played two matches before this one, because his second-round opponent, Thanasi Kokkinakis, withdrew with a bad shoulder. At 2-1 in the third set, with Cilic serving, Nadal came up with that nolook volley to begin things. After Cilic missed a shot, Nadal’s big backhand made it love-40. One double-fault later, that game was over—as, essentially, was the match. Cilic simply never recovered. They would go on to play for about another hour, and he managed to grab just two more games. AP

OSAKA GETS DOOR, RAFA IN QUARTERS Those weren’t the only reasons that the No. 1-seeded Naomi Osaka’s 10-match winning streak at the US Open and title defense ended Monday in the fourth round. Belinda Bencic’s clean, crisp strokes, struck with the ball still on the rise, contributed plenty to the outcome, too.

By Howard Fendrich

The Associated Press

EW YORK—Naomi Osaka’s achy left knee didn’t let her serve without pain, so she didn’t practice that key part of her game leading into the US Open. The knee also prevented her from covering the court and preparing for shots the way she’d like. Those weren’t the only reasons that the No. 1-seeded Osaka’s 10-match winning streak at the US Open and title defense ended Monday in the fourth round. Belinda Bencic’s clean, crisp strokes, struck with the ball still on the rise, contributed plenty to the outcome, too. Osaka joined 2018 men’s champion Novak Djokovic on the sideline before the quarterfinals, exiting with a 7-5, 6-4 loss to the 13th-seeded Bencic under a closed roof at Arthur Ashe Stadium on a rainy afternoon. Djokovic stopped playing in his fourth-rounder Sunday night because of a problematic left shoulder. “I honestly didn’t move well today. You know what I mean? I felt like I was always flat-footed.... The knee was a little bit annoying in the movement aspect,” Osaka said. “But I think that that’s something I should have overcome.” As for her powerful serve, Osaka called it “inconsistent,” saying she hadn’t been working on it coming into the year’s last Grand Slam tournament “because I can’t really land on my leg that great.” Osaka has been wearing a black sleeve on the knee and was given a pain-killing pill by a trainer midway through the second set Monday. By then, Bencic was up a set and a break, employing a quickstrike style of taking balls early and snapping them back, rushing Osaka and not leaving her not enough time to respond. It worked before: Bencic is now 3-0 against Osaka in 2019. “I don’t have the biggest power. Don’t have the most winners or most aces. But I think I can really read the opponent’s game well,” said Bencic, who will face No. 23 Donna Vekic of Croatia in the quarterfinals. “I definitely try to do that against anyone, not only against her.” Bencic finished with far more winners, 29, than unforced errors, 12, and showed once again that she is a big-match player. She owns a tour-leading nine victories over top-10 opponents in 2019 and is 4-1 for her career against top-ranked players. Bencic is 22, just a year older than Osaka, but her progress was slowed in recent years by injuries, including wrist surgery. Back in 2014, when she was 17, Bencic became the youngest woman into the US Open quarterfinals since 1997, when another Swiss woman, Martina Hingis, took the title. Hingis’s mother, Melanie

Molitor, used to coach Bencic, and five-time major champion Hingis herself has served as a mentor. Bencic said she likes to emulate the way Hingis used to play, always thinking a move or two—or more—ahead. “With Melanie, we didn’t try to copy Martina’s game. We tried to make my own game. And obviously, I know there are similarities, because that’s the way Melanie teaches, but it was about making my own strengths and my own game style,” Bencic said. “I play, of course, a little bit different than Martina. I think she was even more skilled and smarter on the court and playing more chess. I think I have a little bit less maybe talent and touch than her, but maybe a little bit more power.” In men’s action, No. 2 Rafael Nadal’s bid for a fourth US Open trophy and 19th Slam title in all progressed via a 6-3, 3-6, 6-1,

6-2 victory over 2014 champion Marin Cilic at night in front of an appreciative Ashe crowd that included Tiger Woods throwing uppercuts to celebrate spectacular shots. Nadal’s quarterfinal foe will be No. 20 Diego Schwartzman, a 3-6, 6-2, 6-4, 6-3 winner against No. 6 Alexander Zverev, who was undone by 17 double-faults. “My first serve is still fine. My second serve needs to be worked on,” Zverev said. “But I’ll deal with it.” No. 24 Matteo Berrettini gave Italy its first US Open men’s quarterfinalist since 1977 and made it this far himself for the first time at any major with a 6-1, 6-4, 7-6 (6) victory over Andrey Rublev. Berrettini now plays No. 13 Gael Monfils, who overwhelmed Pablo Andujar 6-1, 6-1, 6-2. Osaka made her breakthrough at Flushing Meadows a year ago, winning her first major championship by beating Serena Williams in a chaotic final that devolved after Williams got into an extended argument with the chair umpire. Osaka followed that up with a second consecutive Grand Slam trophy at the Australian Open in January. That allowed her to become the first tennis player representing Japan to reach No. 1 in the rankings. This loss means that Osaka will cede that top spot to No. 2

Ash Barty, who lost her fourth-round match Sunday. “Right now, I have this feeling of sadness,” said Osaka, who lost in the third round at the French Open and first round at Wimbledon, “but I also feel like I have learned so much during this tournament. Honestly, of course, I wanted to defend this tournament.” Another women’s quarterfinal will pit No. 25 Elise Mertens of Belgium against No. 15 Bianca Andreescu of Canada or qualifier Taylor Townsend of the US. Mertens advanced by beating wild-card entry Kristie Ahn of the US, 6-1, 6-1. Ahn carried heavy tape jobs on her right arm and left leg. Vekic, a 23-year-old from Croatia, reached her first Grand Slam quarterfinal by saving a match point and edging No. 26 Julia Goerges of Germany, 6-7 (5), 7-5, 6-3. “I don’t even know how I won this match,” Vekic said. Well, here’s how: Goerges served for the victory at 5-4 in the second set, coming within one point of ending things right there. Not only couldn’t Goerges convert that match point, but she also double-faulted three times in the game and unraveled from there, wasting a 21-ace effort. “It’s not about that service game,” Goerges said, perhaps trying to persuade herself.

NAOMI OSAKA’S achy left knee leads her to the exit as Tiger Woods agrees Rafael Nadal is hot on track. AP

TEAM McCOCO DONE AT U.S. OPEN

EW YORK—The unbeaten streak is over for American teens Coco Gauff and Caty McNally. Gauff, a 15-year-old from Florida, and McNally, a 17-year-old from Ohio, lost 6-0, 6-1 in the third round of doubles at the US Open to the eighth-seeded team of Victoria Azarenka and Ash Barty, 6-0, 6-1. “We didn’t start off good,” Gauff said, “and I guess that momentum kind of dragged on the whole match.” It was the first loss for the pairing who nicknamed themselves Team McCoco: They won the junior doubles title at Flushing Meadows together a year ago, then partnered up to win a Women’s Tennis Association doubles trophy at the Citi Open in Washington in August, before picking up two victories in New York, drawing big crowds each time. Both teenagers also drew attention in singles, with Gauff making it to the third round before losing to defending champion Naomi Osaka, while McNally exited in the second round but only after pushing Serena Williams to three sets. Azarenka and Barty will

face No. 1 seeds Timea Babos and Kristina Mladenovic next. The first man from Italy to reach the US Open quarterfinals since 1977, meanwhile, might have an old wrist injury to thank. Matteo Berrettini, who is seeded No. 24, beat Andrey Rublev of Russia, 6-1, 6-4, 7-6 (6), on Monday at Flushing Meadows to move past the fourth round of any major tournament for the first time at age 23. Berrettini has long been blessed with a big forehand, but he and his coach, Vincenzo Santopadre, both spoke afterward about how adding a one-handed backhand slice to his usual two-handed shot on that side helped him against Rublev—and in general. When Berrettini was 17, he hurt his left wrist and a twohander just wasn’t possible. So Santopadre taught him the single-handed slice and made him use it for a few months. It stuck. Berrettini, who is from Rome, also credited advice he received from Corrado Barazzutti, whose appearance in the US Open quarterfinals 42 years ago was the only previous time an Italian man made it that far. The country’s women have had more success, including in 2015, when it accounted for both final participants: champion Flavia Pennetta and runner-up Roberta Vinci. Barazzutti is now Italy’s Davis Cup captain; Berrettini said they speak to each other every day. AP

Spo

Business

Wednesday, September 4, 2019

OKYO—A judo world champion from Iran is afraid to return home after disobeying orders from the government to withdraw from the world championships in Tokyo to avoid a potential bout against an Israeli opponent. The International Judo Federation said late Sunday that Saeid Mollaei was ordered to withdraw from last week’s competition by Iranian Deputy Sports Minister Mohammad Reza Davarzani. The IJF said Mollaei was then called by Iranian Olympic Committee President Reza Salehi Amiri, who said security services were at his parents’ house. Mollaei was the defending champion and could have faced Israeli athlete Sagi Muki in the final. They were the two top-ranked athletes in their class prior to the world championships. Mollaei said he was ordered to withdraw ahead of a preliminary bout against a Russian so it didn’t appear to be a boycott of Israel. Mollaei kept competing but eventually lost in the semifinals and did not have to face Muki, who won gold and later called Mollaei “an inspiration.” “I want to compete wherever I can,” Mollaei said in a statement from the IJF. “I live in a country whose law does not permit me to. We have no choice, all athletes must comply with it. All I did today was for my life, for a new life. “I need help. Even if the authorities of my country told me that I can go back without any problems, I am afraid.” IJF President Marius Vizer wrote on Twitter that Mollaei was in Germany and was “following the respective procedures” regarding asylum. “Soon the procedure against Iran Judo Federation will start,” Vizer said. The IJF said it would help Mollaei

prepare for next year’s Olympics, also in Tokyo. If Iran refuses to enter him, one option could be the International Olympic Committee (IOC)-backed team of refugee athletes. “After learning about the case, the IOC has requested a full report from IJF. Based on this report we will further evaluate the situation,” the IOC said. The IOC, however, didn’t comment when asked if it could invite Mollaei as a refugee, or whether it could take action against the Iranian Olympic Committee. Iranian sports teams have for several decades had a policy of not competing against Israelis, which the country does not recognize. The IJF has said Iranians have thrown matches and used “questionable injuries” to avoid competing against Israelis. Mollaei’s case comes four months after judo officials hailed a breakthrough in relations with Iran, publishing a letter signed by Salehi Amiri pledging to “fully respect the Olympic charter and its nondiscrimination principle.” On Saturday, Iranian Sports Minister Masoud Soltanifar accused the IJF of trying to “create problems” with Mollaei, the IRNA news agency reported. He said Iran will send a protest letter to the IOC. Iranian Team Manager Majid Zareian also criticized the IJF, saying “everything was set in advance to put Mollaei against a participant from [Israel].” “They did not allow me to be present next to my athlete in exercise salon,” Zareian said. “After the competitions they changed hotel of Mollaei without my permission, against the regulations.” He denied reports Iranian authorities had put pressure on Mollaei. AP

IRANIAN AFRAID TO GO HOME

IRAN’S Saeid Mollaei (blue) competes against Georgia’s Luka Maisuradze during the men’s -81 kilogram bronze-medal match of the World Judo Championships in Tokyo. AP

Carapaz to Ineos, Quintana to French team Arkea Samsic

ONDON—Giro d’Italia champion Richard Carapaz has signed a threeyear deal to join Tour de France winners Chris Froome, Geraint Thomas and Egan Bernal at Team Ineos. With his Giro victory in June, the 26-yearold Carapaz became the first rider from Ecuador to win a Grand Tour. Carapaz says, “I feel this is a great opportunity for me to continue my development and growth as a rider, working with a team that continues to go from

strength to strength, year after year.” Ineos team principal Dave Brailsford says, “We have been longtime admirers of [Carapaz’s] talents as a bike rider and have followed his development closely over a number of years, as we have always marked him out as a potential member of our team.” Ineos was formerly known as Team Sky. Carapaz had been with the Movistar team. Two-time grand tour winner Nairo Quintana is also leaving his Movistar team to join French cycling outfit Arkea Samsic next season.

The 29-year-old Colombian climber won the Giro d’ Italia and the Spanish Vuelta and has been runner-up twice in the Tour de France in his eight seasons with Movistar. He will join Warren Barguil at Arkea, which has also signed Quintana’s brother, Dayer, along with Diego Rosa and Winner Anacona for next year. “It’s a turning point in my career. I was looking for a team in which I was going to be happy,” Quintana said on Monday. “My ambitions are the same. Personally, the goal

is to fight for victory on the Tour de France.” Quintana is leading the Spanish Vuelta after nine stages, seeking to repeat his victory in the three-week race in 2016. But after several successful seasons, Quintana’s performance has slipped as he had to share leadership roles with other riders at Movistar. For Movistar, Quintana’s departure comes as the team undergoes a major overhaul. Mikel Landa has left for BahrainMerida. AP

orts

sMirror

Wednesday, September 4, 2019 C3

MALACAñANG AFFIRMS SUPPORT FOR 30TH SEAG

Al Mendoza alsol47@yahoo.com

THAT’S ALL

Commitment to friendship

EVERYONE came for the interagency meeting for the country’s hosting of the 30th Southeast Asian Games—from Philippine Sports Commission (PSC) Chairman and Chef de Mission William Ramirez to Executive Secretary Salvador Medialdea, Defense Secretary Delfin Lorenzana, Subic Bay Metropolitan Authority Chairman and Administrator Wilma Eisma and National Commission on Muslim Filipinos Director Dimapuno Datu-Ramos Jr. to Philippine SEA Games Organizing Committee Chairman, Speaker Alan Peter Cayetano, and Philippine Olympic Committee President Abraham Tolentino.

RACTICALLY everyone in government came in full force on Tuesday for the second interagency meeting for the country’s hosting of the 30th Southeast Asian Games. That alone, according to Philippine Sports Commission (PSC) Chairman and Chef de Mission William Ramirez, is proof of Malacañang’s full support for the Games set from November 30 to December 11 in multiple venues with the New Clark City as the flagship hub. “We’ve had an interagency meeting before

but this is the first time that we are doing this at this level,” said Ramirez before the start of the meeting at the Philippine International Convention Center in Pasay City also co-presided by Philippine Olympic Committee President Abraham Tolentino. Among those in attendance were Executive Secretary Salvador Medialdea, Defense Secretary Delfin Lorenzana, Subic Bay Metropolitan Authority Chairman and Administrator Wilma Eisma and National Commission on Muslim Filipinos Director Dimapuno Datu-Ramos Jr., MD-MHA.

Medialdea, who represented President Duterte, encouraged everyone to exceed expectations for the hosting. “The hosting is only less than three months away, we cannot afford to [send] President Duterte with anything less than perfect,” Medialdea said. “The President puts his hope on us all, expectations that may only be achieved if we work our hardest with utmost commitment and solid cooperation.” Speaker Alan Peter Cayetano, chairman of the Philippine SEA Games Organizing Committee,

Asian Games hosting. It is no longer about PSC, POC or Phisgoc. This is already about Team Philippines,” Cayetano said. The SEA Games program consists of 530 events in 56 sports, the biggest in SEA Games history. Also present during the meeting were PSC Commissioners, Ramon Fernandez, Celia Kiram, Charles Maxey and Arnold Agustin, as well as POC Secretary-General Edwin Gastanes, Chairman Steven Hontiveros, Phisgoc President and Chief Operating Officer Ramon Suzara and Executive Director Tom Carrasco.

GILAS OUT TO SAVE FACE B

BAYRON OUT ON A MISSION

ay Bayron bristles with confidence in chase of a record Aboitiz Championship crown but the rest of the 108-player international cast similarly do, guaranteeing a feisty start to the $100,000 event at Wack Wack Golf and Country Club in Mandaluyong City on Wednesday. But the flat but demanding East layout could spoil whatever blistering launch the elite pros could be aiming at given its toughness that it has maintained since it underwent upgrading works some years back, including its 7,222-yardage, its thick roughs and undulating putting surface. But Bayron and the rest, including a strong 14-player Thai contingent and a crack roster of players from 17 other nations, remain upbeat of a strong start, armed with games toughened by stints in various tournaments here and abroad. “I believe I could win again at Wack Wack. My ball striking is quite good and I feel good of my chances,” said Bayron, who beat Malaysian Gavin Green by two when the event, organized by Aboitiz Equity Ventures Inc., was first held at Wack Wack in 2016. So confident is the Davaoeño shotmaker who believes he could better his winning score of six-under 282 this week in pursuit of a record third championship following his romp in the inaugural staging of the event in its home base in Cebu in 2011. “I know I can score eight-under or better this week,” said Bayron. So do the rest of the cast, including Aussie Damien Jordan, who overpowered the field at Orchard last year, and Thais Namchok Tantipokhakul and Wisut Artjanawat, who took two of the first three legs of the third season of the Philippine Golf Tour (PGT) Asia organized by Pilipinas Golf Tournaments Inc. There are also the likes of Ratchapol Jantavara and Tawan Phongphun, also from Thailand, who finished 1-2 in this year’s PGTA Qualifying Tournament at Luisita, Tarik Can, Sam Gillis, Lexus Keoninh, Charles Lee, Matt Lutz, Brett Munson, Joshua Salah and Sean Talmadge of the US and Aussies Tim Stewart and David Gleeson. The locals are also coming into the event, backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High, hopeful of their respective bids, including two-time winner Elmer Salvador, four-time PGTA winner Jhonnel Ababa, and former leg champions Jobim Carlos, Justin Quiban and James Ryan Lam. Others in the hunt are Thammasack Bouahom of Laos, Gabriel Cheok and Gregory Foo of Singapore, 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.

presided over the meeting attended by representatives from the Department of Budget and Management, Philippine Amusement and Gaming Corp., Bases Conversion and Development Authority, Department of National Defense, Armed Forces of the Philippines, Philippine National Police, Department of Public Works and Highways and the local government units of Capas, Tarlac, Calatagan, Batangas, Santa Rosa, Laguna, and Angeles City. “I thank everyone here in advance for lending their help for our 30th Southeast

‘I AM TRULY IMPRESSED’ Cagayan de Oro Second District Rep. Rufus Rodriguez

(right), also chairman of the Philippine Athletics Track and Field Association, tells Bases Conversion and Development Authority President Vivencio Dizon that he is impressed by the Athletics Stadium and Aquatics Center at the New Clark City in Capas, Tarlac.

Blue Eagles open ‘three-peat’ quest against Soaring Falcons

teneo begins its quest for a “three-peat” with a big debut match against Adamson University in the opening salvo of the University Athletic Association of the Philippines Season 82 men’s basketball tournament on Wednesday at the Smart Araneta Coliseum. The defending champion Blue Eagles take on last year’s semifinalists Soaring Falcons at 4 p.m. The UAAP is opening for the first time with a triple-header—University of Santo Tomas faces University of the East at 10:30 a.m. and Far Eastern University meet University of the Philippines at 12:30 p.m. With reigning Most Valuable Player Thirdy Ravena, Isaac Go, twins Matt and Mike Nieto and Ivory Coast big man Angelo Kouame in the roster, the Blue Eagles look invincible from all angles. And that’s why the Tab Baldwin-coached squad is regarded as the heavy favorite. But the American-Kiwi coach cautioned his wards against complacency. He welcomed the high expectations and promised to display their

brand of basketball. “We have to do our job. It starts on Wednesday,” he said. “I’m sure it will be a tough challenge.” The Blue Eagles finished the eliminations at 12-2 won-lost, their setbacks coming at the claws of the Soaring Falcons and Far Eastern University Tamaraws in the first round. But the Blue Eagles couldn’t be denied in the second round which they swept. Falcons Coach Franz Pumaren said they are facing the best squad in the league. “It’s quite obvious, they are the best,” Pumaren said. The Soaring Falcons were second in the eliminations last season with a 10-4 record. Jerrick Ahanmisi, Jerom Lastimosa and Simon Camacho are back to provide firepower for the Falcons. To be played simultaneously at the University of Santo Tomas gym are the women’s matches between Ateneo and UE at 8 a.m. and De La Salle against UP at 10:00 a.m. Ramon Rafael Bonilla

SIKLAB YOUTH AWARDS Philippine Sports Commission Chairman William Ramirez poses with his fellow awardees and PSC, Philippine Olympic Committee and national sports association officials during the Second Siklab Sports Youth Awards on Monday night at the Market! Market! in Taguig City. ROY DOMINGO

attered black and blue, Gilas Pilipinas tries to save face from total embarrassment and aims for a decent finish in the group phase when it tackles Angola in the 2019 Fiba World Cup on Wednesday at the Foshan International Sports and Cultural Arena in China. European powerhouse Italy and Serbia slapped the national team left and right with a brand of basketball that is hard to decode but perfectly appealing to the eyes. The pair of losses, so devastating that the margin reached 46 and 59 points, served the Filipinos lessons to take home—experiences that will surely bring the basketball experts back to the drawing board when Gilas goes to active duty again for the 2023 World Cup the country is cohosting along with Japan and Indonesia. But before bowing out, the national team has a chance to pluck itself out of the bottom of the well when it face the Angolans at 3:30 p.m. Also a bruised warrior in Group D, Angola was dealt a 105-59 beating by Serbia and a 92-61 crushing by Italy. Long before the tournament started, Coach Yeng Guiao has predicted that Gilas could beat Angola which is ranked 39th by Fiba. The country sits at 31st, but given the results from the games against Italy and Serbia and the bad

memory that may ignite motivation or deflate the morale of the players—nothing is certain. “We’ve been playing Asian-level basketball, but the world level is different,” Guiao admitted, “several notches different.” Unlike against Italy where Gilas was shellshocked from the beginning, the Filipinos stood their ground in the opening minutes and even momentarily led, 9-7, against the Serbians. But the tournament favorites reminded Gilas who they are and sprung a 21-4 run that doused the fiery start of the Filipinos. In the end, Serbia handed the national team a whooping 126-67 beating to formally eliminate the country from contention. Again, CJ Perez shone brightest with 16 points. Paul Lee added 15, while June Mar Fajardo listed eight points and six rebounds. There was virtually nothing from naturalized player Andray Blatche, who only had five points on 2-of-10 shooting. Nemanja Bjelica scored 20 for Serbia, while Bogdan Bogdanovic added 17 points. Still, Gilas was a sight for sore eyes from the three-point zone where they went 4-of24, compared to their opponents’ 12 hits. Ramon Rafael Bonilla

Cool Smashers eye 7th straight win

reamline tries to zero in on a sweep of the first round eliminations as it faces slumping PacificTown Army on Wednesday as Petro Gazz and BanKo-Perlas try to bolster their respective bids against separate rivals in the Premier Volleyball League Open Conference at the Filoil Flying V Centre in San Juan. Four shutout wins and a couple of 3-1

triumphs have marked the Cool Smashers’ strong start in the season-ending conference of the league organized by Sports Vision they ruled last year. And with the Lady Troopers reeling from back-to-back losses after sweeping their first two games, the defending champions could be looking at extending their run to seven in their 4 p.m. encounter.

IF you continue to fret because we got routed back-to-back in the Fiba World Cup, you are not being realistic. Wake up, fellas! No room for bellyaching. Face the music. Have we not been warned? Beating Italy and Serbia was not only a mission impossible but rather, it was a mission doomed from the start. Game is ended before it’s begun—to paraphrase a line from a classic Nat King Cole ditty. Italy’s 108-62 shellacking of Gilas was painful enough. But was there any surprise there whatsoever? And how about Serbia’s 126-67 rout of Gilas in Game Two two days later? You must have watched two different games, if not a tournament other than the World Cup, if you said yes. To clarify, from the start, they were games we were supposed to minimize our losing margins, the tournament simply not being cut out for us. The tournament was not for the average but rather, for the best of the bests, the elite of the elites. Our losing margins were screaming proofs: 46 points against Italy, 59 points against Serbia. If it were boxing, both were by knockouts. In the first round. This proves once more that on the world basketball stage, we are simply average, the cream of the crop in the Philippine Basketball Association (PBA) simply, hurtfully, inferior when ranged against those from Europe and the Americas. We’ve been aware of that for the longest time. Still, we continue to play in the Fiba World Cup. Why, because it is a commitment in the name of friendship among nations through sports. Tonight, we play again. We battle Angola for a third and final assignment in our Group D schedule with only pride and ego at stake. The African champion and Gilas are out of the running as Angola, like us, had likewise absorbed a second loss against Italy on Monday, 92-61. Only the Top 16 from the eight brackets—two from each group—will advance. But although ousted already, there is one more target for Gilas in the ongoing Fiba Worlds: Emerge as No. 1 Asian country after the tournament to make it outright to the 2020 Tokyo Olympics. But, again, if only to stress the obvious, that is next to impossible anew as the consolation round will include other Asian giants like China, Iran, Jordan, Iraq and even South Korea. There’s one last chance for us to get to Tokyo next year: First, finish within the Top 24 in the ongoing 32-team field in China and then in February next year, Gilas must win the Olympic Qualifying Tournament. The chances of achieving either one? Almost next to none. Gruesome. Lilliputians will always be no match against giants: Timeless truth in basketball. It hurts but acceptance heals. Move on. THAT’S IT Commissioner Willie Marcial of the Philippine Basketball Association, in dispelling adverse fan reaction to our debacles in China, was right: “We know we will take a hit [in the Fiba wars].... But I’m sure we can still treat our fans to the best brand of basketball, fast-paced, high scoring and much to the liking of our fans.”

But for sure, the crowd favorites won’t be banking on those streaks or spells alone but on the merits of their performance that continues to improve each game day. Reinforced Conference titlist Petro Gazz, meanwhile, hopes to sustain its pair of 3-0 romps over Pacifictown Army and Air Force as it faces a slumping Choco Mucho at 2 p.m. while BanKoPerlas also shoots for its third straight win and fifth overall in seven games against BaliPure in the 6 p.m. main dish.

Sports BusinessMirror

No replacement is named for Luis Felipe Scolari. AP

Palmeiras fires Scolari—Brazil coach to 2002 World Cup title

Inter Milan forward Romelu Lukaku wants soccer authorities to do more to combat racism. AP

Ronaldo, Messi, Rapinoe finalists for top player award

ILAN—Netherlands defender Virgil van Dijk has joined five-time winners Cristiano Ronaldo and Lionel Messi as the three finalists for the Fifa best player award. United States forward Megan Rapinoe is the favorite for the women’s award. The announcement of the final three in each category—including best coach and best goalkeeper—was made Monday at San Siro. The winners will be announced at a ceremony at Milan’s iconic Scala theater on September 23. Luka Modric, who won the award last year after leading Croatia to the World Cup final, did not make the 10-man shortlist. Van Dijk joined Ronaldo and Messi after helping Liverpool win the Champions League title in June.

Rapinoe is competing against World Cup-winning teammate Alex Morgan and England forward Lucy Bronze. All three of the finalists for the men’s coach award work in the Premier League: Liverpool’s Jürgen Klopp, Manchester City’s Pep Guardiola and Tottenham’s Mauricio Pochettino. While Klopp won the Champions League with Liverpool and Guardiola steered City to a second straight Premier League title, Pochettino has never won a trophy in his managerial career— although he did lead Tottenham to the Champions League final. United States Coach Jill Ellis, who won back-to-back World Cup titles before stepping down after more than five years in charge, was nominated for the award for the best coach in women’s soccer.

| Wednesday, September 4, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

FIGHT RACISM! By Daniella Matar

The Associated Press

ILAN—Inter Milan forward Romelu Lukaku called on soccer authorities to do more to combat racism after being the latest target of racial abuse that continues to blight the

Italian game. Lukaku converted Inter’s winning penalty kick against Cagliari on Sunday and then glared at home fans behind the goal as they had been directing monkey chants at the former Manchester United player, who is black. “Many players in the last month have suffered from racial abuse. I did yesterday, too,” Lukaku wrote on Instagram on Monday. “Football is a game to be enjoyed by everyone and we shouldn’t accept any form of discrimination that will put our game in shame. I hope the football federations all over world react strongly on all cases of discrimination!!!” Lukaku also called on social-media companies to take action. “Social-media platforms [Instagram, Twitter, facebook..] need to work better, as well as with football clubs because everyday you see at least a racist comment under a post of a person of color... we’ve been saying it for years and still no action. Ladies and gentlemen, it’s 2019, instead of going forward we’re going backwards and I think as players we need [to] unify and make a statement on this matter to keep this game clean and enjoyable for everyone.” Former United teammate Paul Pogba was recently targeted on Twitter with racial abuse after missing a penalty. Everton forward Moise Kean was subject to racist abuse when he played against Cagliari for Juventus last season, as was Blaise Matuidi the year before. The Italian league did not sanction Cagliari for either incident, nor did they do so when Sulley Muntari was abused by the same team’s fans in 2017. The Pescara midfielder was so infuriated after unsuccessfully trying to get the referee to

ãO Paulo—The coach who led Brazil to the 2002 World Cup title has been fired by Brazilian club Palmeiras. The São Paulo team issued a statement Monday announcing the sacking of Luis Felipe Scolari, whose squad was eliminated last week from the Copa Libertadores tournament. No replacement was named. It was Scolari’s third term at Palmeiras, which he led to the Brazilian championship last year. They won the Libertadores in 1999. But Palmeiras has gone seven league games without winning and lost to Gremio in the Libertadores quarterfinals. The 70-year-old coach also has led Portugal’s national team and Chelsea in the English Premier League. He led Brazil to its last World Cup title, but also oversaw the humiliating 7-1 semifinal loss to Germany in the 2014 Cup that Brazil hosted. Fifa, meanwhile, has hired a former Champions League marketing executive to run its commercial department. The governing body said Monday it recruited Simon Thomas as chief commercial officer to replace Philippe Le Floc’h, who oversaw World Cup sponsor sales since 2016. Thomas has been CEO of Switzerland-based agency TEAM Marketing, which has exclusive rights from UEFA to sell Champions League broadcast and sponsorship deals. His move to Fifa reunites a working relationship with Fifa President Gianni Infantino. Thomas’s twoyear spell as TEAM CEO was during Infantino’s six-year stint as UEFA general secretary. Thomas’s career includes spells working for Nike in Australia and with the local organizing committee in Sydney ahead of the 2000 Olympics. He was also global head of sport for the international Fox Sports Channel. Fifa said Le Floc’h, also a former UEFA executive, chose to leave for personal reasons and will continue his career in Asia. Thomas will be expected to shape a commercial strategy for the 2022 World Cup in Qatar. Fifa currently has eight 2022 sponsors in the top 2 tiers, which have typically included 12 to 14 deals. No third-tier sponsors have yet been signed. Fifa has also considered creating a separate, standalone strategy for the 2023 edition of the Women’s World Cup. AP

halt the game that he walked off the field and was shown a second yellow card and given a onematch ban, which was later overturned. In response to the Lukaku chants, Serie A announced a new initiative to be launched in October whereby one player from each team will join an anti-racism team as “a testimonial that will be the bearer of the values of respect and equality.” Cagliari vowed to do everything it can to eradicate the problem but also strongly defended its fans’ reputation. “The Club underlines—once again—its intention to identify, isolate and ban those ignorant individuals whose shameful actions and behaviors are completely against those values that Cagliari Calcio strongly promotes in all their initiatives. Every single day,” the Sardinian club said in a statement. “Cagliari Calcio does not want to underplay what occurred last night...but firmly rejects the outrageous charge and silly stereotypes addressed to Cagliari supporters and the Sardinian people, which are absolutely unacceptable.” Lega Serie A, the Italian topflight’s governing body, retweeted Cagliari’s tweet linking to its statement along with the words “On and off the pitch, one message: #NOTORACISM,” but has otherwise remained silent and has not responded to e-mails asking for comment. Cagliari joined Lukaku in asking authorities to do more. “Full solidarity to Romelu Lukeku and even stronger commitment toward annihilating one of the worst plagues that affects football and our world in general,” it added in its statement. “However, as we are aware that technology is not enough, we believe our commitment needs a real support by the rest of the football stakeholders: starting from all the true supporters, to all the stewards in the stands, from police and security agents, passing to media and as well through Lega Serie A and FIGC. Cagliari Calcio is asking you all a solid help to win a battle that involves everyone. No one excluded.” Cagliari could be punished on Tuesday when the league’s judge hands down sanctions following the weekend matches. The Italian soccer federation president has called for swifter retribution to similar incidents. “What happened last night at Cagliari is serious regardless of the number of those who were guilty of these ignorant racist chants,” Gabriele Gravina told Italian national news agency Ansa. “I don’t want to enter into what is the jurisdiction of the sporting justice system, which will proceed in autonomy in respect to the regulations...we have to make the sanctions still more forceful and more rapidly applied in order to fight this unjustifiable act.” Inter did not release a statement of its own but also retweeted Cagliari’s tweet, adding the words “BUU #BrothersUniversallyUnited.” BUU, an acronym for Brothers Universally United, was the initiative Inter started in January when it was forced to play two matches behind closed doors as part of its punishment for racist chanting against Napoli defender Kalidou Koulibaly in a December 26 league match.

She is joined by England’s Phil Neville and the Netherlands’s Sarina Wiegman. The Netherlands lost to the United States in the World Cup final. Liverpool also has a contender for the best goalkeeper award. Alisson up against City’s Ederson and Barcelona’s MarcAndré ter Stegen. Christiane Endler, Hedvig Lindahl and Sari van Veenendaal are the three finalists for the women’s goalkeeper award. The winners will be voted on by national team coaches and captains, selected media and online fan voting. AP United States forward Megan Rapinoe is the favorite for the women’s award. AP

Faithful God of mercy

EAR God, we rejoice in Your love and pray: God, send us Your light and Your blessing. Break through the hardness of our hearts and help us to put on the mind and heart of Christ. Open our mouths to defend the rights of those who are poor, marginalized or cast out of their homeland. Help us to protect children and youth from abusers and bullies. May God fill our hearts with the warmth of Christ’s love and animate our desire to live in love with all our brothers and sisters. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

GUCCI GETS ITS A.R. GAME ON

THE Gucci App introduces a pioneering augmented reality technology that allows customers to virtually “try on” its Ace sneakers, a mainstay of the house’s collections. Creative Director Alessandro Michele’s unique ability of combing the past with the contemporary, vintage and technology, is at the base of this new project. The technology will allow Gucci to present the newest models to its fans, provide an engaging experience and an opportunity to interact with upcoming shoe collections that are only scheduled for release. Wannaby, Gucci’s technology partner for this launch, just recently released the most precise and accurate shoe AR Try-on technology that has been acknowledged by industry leaders and AR professionals all over the world. The Ace sneaker, with its ever-changing decorations, has become a canvas for Gucci through which to demonstrate its delight in creative decoration and embellishment. As such, it is also the ideal vehicle through which customers can express their own personalities. The house reinterprets the Ace regularly, encouraging people to choose between multiple playful versions, each a powerful emblem of character and personality. Now, the Gucci App unveils new functionality that enables users to explore what different models of Ace sneakers might look like to wear through augmented reality. People can pick the Ace sneakers of their choice onscreen, point their mobile device’s camera at their feet and virtually “tryon” the selected pair. The technology—available only on iOS—allows Gucci to present the newest models of the Ace to its customers all over the world and provide an engaging experience for them. Linked to gucci.com, customers can immediately purchase the Ace sneakers of their choice. Customers are also able to take photos of themselves “wearing” their favorite Ace models and share these on social-media platforms. There are also special stickers and wallpapers on the Gucci App to support the project and to let users customize their devices.

COMMERCENTER ALABANG HOLDS FIRST ROBOTICS COMPETITION

COMMERCENTER Alabang, the boutique mall in the heart of the south of Manila, challenges young Filipino inventors in the first-ever Commercenter Robocon 2019. Organized in partnership with RoboRAVE International and RoboRAVE Philippines, the robotics competition will be held on September 14 at Commercenter Alabang’s Activity Center and will be open to students from all over the country. Young Filipino robotics enthusiasts from elementary through senior high school can join the different competitions in Robocon 2019. There will be three categories— Entrepreneurial, SumoBot and a-Maze-ing—each testing the abilities of young trailblazers in the different facets of robotics. Their work will be judged based on purpose, function, marketability and strategic thinking. “We at Commercenter Alabang are excited to offer our youth this platform where they can put their penchant for science and technology in action, literally,” said Leslie TagleDinglasan, AVP for marketing of Commercenter Alabang. “Who knows? From this group of young tech game changers might come the next Elon Musk or Bill Gates. Robotics is the game of the future, and we are glad to contribute to the honing of the future A-players in this field.” The winning teams in the various categories will be awarded with certificates, trophies and medals. They will also be invited to join the 2019 RoboRAVE International: Philippine Invitationals on October 25 to 27 for free, courtesy of RoboRAVE Philippines. More information about Robocon 2019 can be found at bit.ly/2kq5Q1N.

Life BusinessMirror

TRAVELING WITH PETS: NO-DEAL BREXIT WOULD MAKE IT FAR HARDER D2

Wednesday, September 4, 2019

US Citizenship and Immigration Services officers can now create fictitious social-media accounts to monitor information on foreigners seeking visas, green cards and citizenship. AP

US to use fake social media to check people entering country BY TAMI ABDOLLAH The Associated Press

ASHINGTON—US Citizenship and Immigration Services (USCIS) officers can now create fictitious social-media accounts to monitor social-media information on foreigners seeking visas, green cards and citizenship. An updated Homeland Security Department review of potential privacy issues dated July 2019 that was posted online on Friday essentially reversed a prior ban on officers creating fake profiles. A USCIS statement explaining the change says fake accounts and identities will make it easier for investigators to search for potential evidence of fraud or security concerns as they decide whether to allow someone entry into the US. The change in policy was preceded by other steps taken by the State Department, which began requiring applicants for US visas to submit their social-media usernames this past June, a vast expansion of the Trump administration’s enhanced screening of potential immigrants and visitors. It’s unclear exactly how the creation of fake social-media accounts would work given policies of platforms like Facebook and Twitter, which both specifically state that impersonation—pretending to be someone other than yourself—violates their terms of use. Twitter and Facebook recently shut down numerous accounts believed to be operated by the Chinese government using their platforms under false

identities for information operations. “It is against our policies to use fake personae and to use Twitter data for persistent surveillance of individuals. We look forward to understanding USCIS’s proposed practices to determine whether they are consistent with our terms of service,” according to a Twitter statement. Facebook did not immediately provide comment. Such a review of social media would be conducted by officers in the agency’s Fraud Detection and National Security Directorate on cases flagged as requiring more investigation. The privacy assessment notes that officers can only review publicly available social media available to all users on the platform— they cannot “friend” or “follow” an individual—and must undergo annual training. The officers are also not allowed to interact with users on the social-media sites and can only passively review information, according to the DHS document. While lots of social-media activity can be viewed without an account, many platforms limit access without one. Dave Maass, senior investigative researcher for the civil liberties advocacy group Electronic Frontier Foundation, said such use of fake accounts “undermines our trust in social-media companies and our ability to communicate and organize, and stay in touch with people.” He added: “It can’t be this double standard where police can do it, but members of the general public can’t.” Mike German, a retired FBI agent and a fellow in the Brennan Center for Justice’s Liberty and National

Security program, said it’s important for strong guidelines to be in place and for lawmakers to ask lots of questions to ensure there are no abuses. “It’s easy to conjure up a use where the use is appropriate and entirely necessary, but also where it could be abused,” German said. “It should only be used in cases where absolutely necessary.” In January 2017, former Homeland Security Department Secretary Jeh Johnson issued a privacy impact update giving authority to USCIS to “conduct law enforcement activities including but not limited to accessing Internet and publicly available social-media content using a fictitious account or identity.” But a privacy impact assessment was required to be completed first. Reached by phone on Friday, Johnson declined to comment. Bipartisan support for additional background checks involving social media was initially spurred by the fallout of the 2015 San Bernardino attack, which resulted in 14 people’s deaths. In that case, the shooter Syed Rizwan Farook’s wife Tashfeen Malik gained entry to the US on a fiancée visa—a process that did not involve a socialmedia check. The day after the attack, Facebook found a post on a page maintained by Malik pledging her and Farook’s allegiance to the leader of the Islamic State group. The page was under an alias. Authorities have said Malik and Farook exchanged messages about jihad and martyrdom online before they were married and while she was living in Pakistan. The two ultimately died in a gun battle with police. ■

Apple wants people to know how to clean its new credit card BY MICHAEL LIEDTKE The Associated Press SAN FRANCISCO—Apple believes some of its zealous customers will treasure its new titanium credit card so much that they will spend time polishing its white finish. That’s why Apple has posted instructions on how to clean the card properly and warned that some materials might leave blemishes that are difficult to remove. The list of potential hazards includes leather and denim, prompting some people to conclude Apple’s credit card is so special that it can’t be stored in the wallets and pockets where most other credit cards reside. But the company says it merely wants people to know that the dyes used in some types of leather and denim can leave stains. Those discoloring marks are unlikely in most kinds of wallets and jeans, something Apple alluded to in its post by advising that the card can be kept in a wallet or pocket made

of “soft materials.” The reverence Apple seemed to be according its card triggered widespread derision on Twitter and elsewhere on the Internet. “Do not look directly at Apple Card,” Alex Stamos, a former top security executive at Yahoo and Facebook, mocked in a tweet late Wednesday. “Do not speak to Apple Card. Do not denigrate Apple Card in Its Holy Presence.” In reality, Apple’s cleaning instructions for the card mirrors the same practice it applies for its iPhone, iPad, Mac computers, ear buds and all other physical products. But while it’s common for people to clean those devices, few consumers spend time sprucing up their credits cards. Apple describes a two-step cleaning process involving microfiber cloths and isopropyl alcohol, and includes a list of inappropriate cleaners. The instructions also warn against touching another credit card or “potentially abrasive objects” like coins or keys.

The Apple Card, announced in March in partnership with Goldman Sachs, started rolling out in the US this month. Though industry experts say the card’s financial benefits mirror many of those already out there for consumers, Apple is positioning it as a refreshing change from the thousands of other credit cards that have been available for decades. In one of the biggest differences, the card is designed to be primarily used with the Wallet app on the iPhone and Apple Watch. But at retail stores, that requires merchants to accept Apple Pay. Apple and Goldman Sachs are giving people the option of a physical card to use when Apple Pay isn’t an option. The card is made of titanium and a sleek white finish to give it added flair and prestige. It’s a strategy that has worked well for other high-end cards made of metallic alloys, such as the Chase Sapphire Reserve Card. As part of its effort to keep its new credit-card customers happy, Apple is offering to replace any card that loses its sheen, at no extra charge.

Pet Corner BusinessMirror

Wednesday, September 4, 2019

Traveling with pets: No-deal Brexit would make it far harder

By Natasha Livingstone The Associated Press

ONDON—All across Europe, families and couples on vacation are seamlessly crossing borders with their beloved dog, cat or even ferret, thanks to the European Union Pet Passport scheme. Now, as a no-deal Brexit looms as a possibility for Britain, free pet travel is under threat. If the United Kingdom leaves the European Union on October 31 without a divorce deal—which is increasingly likely under new Prime Minister Boris Johnson—that could result in Britain being chucked out of the pet passport program. And that would hit pet owners on both sides of the English Channel. Some 250,000 British cats and dogs are taken to the EU on holiday by their owners every year. In 2017, the British government issued over 90,000 pet passports to veterinary practices in the UK. Dave Kent, who has relied on guide dogs for 40 years, says the prospect of more paperwork and long waits is alarming. “It’s not like you can leave your dog behind if you’ve got some business or a holiday in Germany or the Netherlands or Italy, or anywhere else in Europe,” he says. “You can’t just suddenly go to those countries and rent a guide dog.” In order to go on vacation to Europe now, British pets need a passport, a rabies vaccine and a microchip. After three weeks, they are cleared to go. Before returning home, animals get a tapeworm tablet from a veterinarian. If the pets’ vaccinations are kept up to date, the passport is valid for three years. Before European pets had their own passports, animals arriving in Britain from the EU had to be quarantined for six months. The thought of returning to a more complicated system is a worry for pet owner Mark Elsden in Newhaven in southern England, who is used to vacationing in France with his dog Alfie. “There’s no consistency, no information, no certainty about what’s going to happen,” he says. The British government’s spokesman on animal issues, Chief Veterinary Officer Christine Middlemiss, says pet owners should prepare for a no-deal Brexit. In practice, that means that the process of

SILVER SPRING, Maryland—Pet stores are suing to block a Maryland law that will bar them from selling commercially bred dogs and cats, a measure billed as a check against unlicensed and substandard “puppy mills.” The stores’ federal lawsuit, filed Friday, challenges a ban set to take effect on January 1, 2020. Maryland is the second state, after California, to pass such restrictions on the sale of dogs and cats. The pet stores fear the ban will put them out of business. Their suit says animal welfare organizations have made unfounded claims that pet stores are fueling the growth of puppy mills. Charm City Puppies Manager Becky Schmidt, whose Columbia store is one of the plaintiffs, said it only uses

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Whitney Cummings, 37; Beyonce Knowles, 38; Wes Bentley, 41; Drew Pinsky, 61. Happy Birthday: Make the most out of whatever you have to work with. Live in the moment, express your feelings and expectations, and surround yourself with people who will add to your life journey. Recognize if someone is asking for too much or taking advantage of your generosity, skills and helpful attitude. Call the shots, and see how far you can go. Your lucky numbers are 3, 11, 17, 22, 25, 36, 43.

ARIES (March 21-April 19): Go over your assets, possessions, debts and any pending contracts, settlements or decisions that need to be addressed. Refuse to let someone make decisions for you. Do what fits your itinerary instead of always accommodating other people’s needs. HHH

TAURUS (April 20-May 20): Strive for perfection, and you will be happy with the results. A change is overdue, and with the right people, you should be able to reach your goals. A business trip, meeting or partnership will help you excel. HHH

GEMINI (May 21-June 20): An opportunity will not be as puffed up as you are led to believe. Ask questions, take a wait-and-see approach, let someone else go first but most of all, protect your heart, money and personal information. HHH

CANCER (June 21-July 22): Look at the choices you have, and do what’s best for yourself. Accommodating others will leave you feeling cheated. It’s time to take care of your needs; strive for what makes you happy. HHHHH

preparing a pet for travel would quadruple. “If you’re looking to travel, you need to see your vet at least four months before the date of travel,” says Daniella dos Santos from the British Veterinary Association. A pet still needs the microchip and the rabies vaccine, but it also needs a blood test at least thirty days after the vaccine. If the pet passes that test, owners need to wait three months before they can travel, bringing the whole timeline to at least four months. Then, dos Santos says, pet owners need additional certification to leave the country— export health certificates—so that’s another visit to the veterinarian. Pets will also need a new health certificate for each trip to the EU. On top of that, pet owners would be able to travel the EU from only a select few entry points.

Katherine Sofoluke has a passport for her miniature Dachshund called George, with whom she recently toured central France. “Some people probably think it’s ridiculous, but to us, George is part of the family,” she said. Traveling with the Dachshund also means Sofoluke doesn’t have to pay costly kennel fees or find a dog sitter. But that may be the simpler option if the Pet Passport scheme is replaced with a more complex system. “If it becomes a really arduous task, for kind of a week or two abroad, it’s not worth it,” she said. British authorities say they are talking to guide dog associations to help them prepare, but that is cold comfort for Kent, who finds the situation utterly confusing. “It’s a real dog’s dinner in my opinion, and one that I don’t think my dog would even want to eat.” n

Maryland pet stores sue to block state ban on dog, cat sales By Michael Kunzelman The Associated Press

www.businessmirror.com.ph

breeders that are “quality-inspected” and federally regulated. “If anything, if our doors close, it’s going to force consumers to have to go to the unregulated, uninspected sources,” Schmidt said on Monday. The lawsuit claims the ban effectively will do just that, shifting the sale of puppies from regulated retailers to unregulated sources, such as sellers placing ads on the Internet or in newspapers. “Internet pet sales have a notoriously high incidence of fraud and scams which will only increase against Maryland residents once the ban takes effect,” the suit says. Gov. Larry Hogan, a Republican, signed the legislation into law in April 2018. The first law of this kind took effect in January in California. It prohibits pet stores from selling a dog, cat, or rabbit unless it came from

an animal shelter or rescue group. Some local governments, including in Maryland, already have enacted similar measures. Maine’s Legislature passed a bill limiting sales of dogs and cats by pet shops, but Gov. Janet Mills is holding it until January. Maryland’s law encourages animal welfare organizations to collaborate with retail pet stores to showcase cats and dogs for adoption or purchase from “local breeders,” according to a summary of the legislation prepared by state analysts. The pet stores’ lawsuit claims the ban is unconstitutional, violating the Commerce Clause. The legislation’s intent to facilitate sales from local breeders discriminates against out-ofstate breeders and brokers, the suit says. “The Maryland Pet Store Ban’s purpose is to remove Maryland from the nationwide market of pet sales in

stores in hopes of eradicating the socalled puppy mill industry. However, a State may not achieve a local economic goal by isolating itself from the national economy,” the suit says. State Sen. Ben Kramer, a Democrat who sponsored the legislation when he served in the state House of Delegates, said retail sales of dogs are keeping puppy mills in business. “The puppy mills are just absolutely disgusting and barbaric,” Kramer said. “The puppy mills don’t exist without the retail stores that sell them.” John Goodwin, senior director of the Stop Puppy Mills campaign for the Humane Society of the United States, said dog and cat sales account for a small fraction of the multibilliondollar pet industry. “There are thousands of small independent pet stores that thrive on selling products and services,” he added.

LEO (July 23-Aug. 22): Question offers and options. Following what someone else decides to do and hoping for the best will leave you with little to show for your effort. Explore avenues that show promise and allow you to accentuate what you do best. HH

VIRGO (Aug. 23-Sept. 22): Refuse to let anyone stifle your dreams. Be vocal, and take physical action to ensure you get what you want. Your success and your happiness are up to you. HHHH

LIBRA (Sept. 23-Oct. 22): Recognize your boundaries and the people who are cheering for you—and those who aren’t. Having a well-rounded view of your situation will encourage you to make decisions that will eliminate some of the stress you are undergoing. HHH

SCORPIO (Oct. 23-Nov. 21): Get on with what’s important to you. Size up your situation, make the changes that will make your life better and focus on who and what’s meaningful to you. Romance will improve your personal experience and living arrangements.HHH

SAGITTARIUS (Nov. 22-Dec. 21): Look at the logistics of a situation before you decide to take part in something questionable. Be careful not to give someone a false impression regarding the way you feel or what you are willing to contribute. Honesty is essential. HHH

CAPRICORN (Dec. 22-Jan. 19): Your effort will not be in vain. Plug away at whatever challenge you take on, and your tenacity will help you reach your target. Fitness, physical improvements and nurturing essential relationships will lead to a better life. HHHH

AQUARIUS (Jan. 20-Feb. 18): Emotional matters will surface if someone has been manipulative or has spent money on things that aren’t necessary. Try to work through any disagreements you have by using reason. If you make a fuss, nothing will be resolved. Keep the peace. HH

PISCES (Feb. 19-March 20): Pitch in and help. The more you do for others, the more you will receive in return. Set high standards, and live up to what’s expected of you. Walk away from people who don’t share your values. HHHHH Birthday Baby: You are determined, engaging and strong-willed. You are passionate and helpful.

‘you don’t say!’ by larry nargi The Universal Crossword/Edited by David Steinberg

ACROSS 1 Rotisserie chicken holder 5 Japanese comic books 10 Offered, as a farewell 14 Legendary gymnast Korbut 15 Certain Alaskan 16 Make like Mr. Universe 17 Show exhaustion 18 Sea creature that can’t talk 20 Unwelcome stocking stuffer 22 Sci-fi classic set on a desert planet 23 G.I. address 24 Mollusk that can’t bray 27 Arthur Conan Doyle title 28 Vigoda of The Godfather 29 ___ for the course 30 Most wily 32 Beverage in marketing wars 34 Girl, in Glasgow 37 Soothes 38 Sea predator that can’t snort 41 Witches’ group 44 Comfy 45 Hunk of bacon 49 Tattletale

1 Drop an egg 5 53 Frazier foe 54 Boy, in Glasgow 55 Amphibian that can’t roar 59 Unit in history class 60 Magazine that reads the same both ways 61 No-thing connector 62 Arachnid that can’t howl 66 Notary’s stamp 68 “Would ___ to you?” 69 Skirt 70 Eve’s grandson 71 Cold cabbage dish 72 River mouth deposit 73 Like Easter eggs DOWN 1 Sponge (up) 2 Treatment that shouldn’t have an effect 3 Scientific parody prize 4 Certain Mongolian 5 Tourist’s aid 6 Selma setting: Abbr. 7 Crossword constructors, perhaps

8 Spiritual guides 9 Does penance 10 No. 1 bud 4 life 11 Noms de plume 12 Abhor 13 Urges on 19 Penn partner 21 It disappears when you stand 24 High School Musical actor Efron 25 Retail therapy site 26 Eurasian range 31 Jabbers 33 Assist with 46-Down 35 Payroll ID 36 Hall of Fame football coach Don 39 Ben, Sam and Fester 40 Food thickener obtained from seaweed 41 The Chronicles of Narnia author 42 Having great luck 43 Onion grown in Georgia 46 “Petty” or “grand” theft 47 Song written by Queen Liliuokalani 48 ___ Dipper 50 Gave a boost

52 QB’s measures 56 Martini garnish 57 Get a bike going 58 Merged 63 ___ and far between 64 Baltimore summer hrs. 65 Irish actor Stephen 67 “Acid” drug Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, September 4, 2019

blind spot bruce c.

NEW LOVE, NEW LIFE

THE actress used to date men on the side for a “professional fee.” But that has changed because she is now in a relationship with an actor. The thing is that she is still very much in demand among her former clients. The actress is scared that having a boyfriend will curtail her style, so to speak, as her side jobs have really helped her and her family lead more comfortable lives. But she is also scared that her actorboyfriend will discover this shady side to her and hit the reject button. The actress is caught in a situation where she might be forced to reveal the truth to her boyfriend, something that has happened before with another guy who summarily left her. IN this June 20, 2017, file photo, US actor Johnny Depp waves for fans upon his arrival at a film premier in Tokyo. A new ad for a Dior men’s fragrance called Sauvage, in which Depp appears, sparked outrage on August 30, for its use of Native American culture and symbols. AP

Dior, Depp stoke outrage with new ad for Sauvage fragrance

By Felicia Fonseca The Associated Press

LAGSTAFF, Arizona—Dior has produced a fragrance called Sauvage since the mid1960s and used Johnny Depp in recent years to promote it. But a new advertising campaign that paired them with Native American imagery deepened wounds among a population whose ancestors were called savages and systematically killed. The French luxury goods company posted a trailer on Friday with a Lakota dancer in colorful clothing that it said embodied modern Native American culture and promised more details on the fragrance on Monday. The videos were removed from Dior’s Instagram and Twitter accounts hours later, although they still appeared on some unrelated accounts devoted to Depp. The trailer and videos continued to generate heavy criticism. Sauvage in French has a variety of meanings, including wild, unspoiled and savage. “That takes it to a whole other level of ignorance and racism,” said Dallas Goldtooth of the Lower Sioux Indian Community in Minnesota. “You should be well

aware of the implications of that word.” Dior worked with Americans for Indian Opportunity, a respected but sometimes controversial consulting firm based in Albuquerque, New Mexico, on the campaign. It’s the same group that ceremoniously adopted Depp as an honorary member of the Comanche Nation while he was filming the 2013 adaptation of The Lone Ranger. Executive director Laura Harris said she expected the backlash but wanted to ensure Native Americans were part of the production, that it would educate people on indigenous values and philosophy, and that the Native components of the shoot were done tastefully and respectfully. “Our aim was hopefully that the controversy would do exactly what it’s done on social media and raise people’s awareness,” she told The Associated Press. Harris said Dior will not change the name of the fragrance or cancel a commercial shot in southern Utah called “We Are the Land” starring Depp. Marketing materials describe it as an “ode to Mother Earth” and say the inclusion of the dancer is meant to be a “powerful tribute to this culture, portrayed with

immense respect.” Neither Dior, a representative for Depp nor the dancer—Canku OneStar, an enrolled member of the Rosebud Sioux Tribe in South Dakota—responded to messages seeking comment. Dior had posted trailers and other images from its new Sauvage campaign earlier in the week, but they did not generate similar reactions. Crystal Echohawk, executive director of IllumiNative, said Dior did the right thing by working with a Native American consulting group but was ignorant in tying the fragrance to Native imagery. “It shows that a well-intentioned collaboration can inadvertently be exploitative and racist, and I think that’s what happened here,” said Echohawk, who is Pawnee. “I think it’s an important lesson learned. They need to pull the entire national campaign.” Robert Passikoff, president of the New York-based customer research firm Brand Keys Inc., said hiring a minority firm isn’t enough, and there’s no excuse for companies appropriating cultural aspects and leveraging them for profit. “One just needs to be very, very careful these days about what is politically correct, culturally correct... and at least racially balanced,” he said. n

HEALTH PROBLEMS

AN actress, who was married and is now a single mother, reportedly became pregnant after a tryst with one of her lovers, who paid for her company. However, the actress became pregnant after unprotected sex and she informed the lover who got her in that situation. The guy was OK to own up and even support the actress financially at least. The actress, however, had other ideas. She reportedly went abroad to “take care” of the problem and she is now back and working again. But she’s had so many health issues since then. The actress is scared because she has a child who depends on her.

THE TRUTH ABOUT HIS DEATH

PEOPLE are under the impression that the late celebrity was very rich because he worked a lot. Not much is known about the celebrity’s life but he, in fact, supported his family, including a fully grown child. He also supported siblings, nieces and nephews. The actor and his partner also liked to gamble and a huge chunk of his earnings went there. So this is why he wasn’t rich when he died. We heard the actor’s partner is contemplating legal charges against people she believed were negligent in the rumored incident. Last we heard, actor’s partner was already talking to her lawyers.

HE NEEDS CASH

WE wonder if the actor, who was recently in a very successful project, would get a percentage of the profits of that project? The actor reportedly got a very small talent fee because, at that time, he was considered a sort of has-been who didn’t have any box-office power. That has since changed and there are rumors that the actor and his management want a piece of the profit pie. The thing is the actor is heavily in debt and needs the cash. When he was earning big money, he decided to shop till he dropped for himself instead of saving and investing. So a bonus or a share of the profits will be very welcome right now.

BON IVER

Scarlett Johansson says ‘Marriage Story’ felt fated VENICE, Italy—When Noah Baumbach asked Scarlett Johansson to meet with him about a new film he was going to write about a divorce, he didn’t know she was going through one in real life. “It felt fated in a way,” Johansson said. “It came somehow at just the right time.” Johansson stars alongside Adam Driver in Marriage Story, a Netflix film about a couple—she plays an actress and he plays a theater director—with an eight-year-old son managing a bicoastal separation and divorce. It

premiered on Thursday at the Venice Film Festival, where it is competing for the Golden Lion award. Although Johansson had her own experiences to draw on having most recently divorced French businessman Romain Dauriac in 2017, she said there was something of everyone behind the film in the brutally honest but tender character study. Baumbach wrote the script knowing that Driver and Johansson would play the couple in question. He

said he realized in the writing process that, “Through a divorce we could explore a marriage.” “Although they’re coming apart, love always exists,” he said. “It’s in every scene, it’s there.” Laura Dern, who plays Johansson’s divorce lawyer, added that it personifies “the business of divorce.” One scene, in which the two leads have a particularly traumatic fight, had audiences at the Venice Film Festival buzzing. Driver said he didn’t really

analyze it afterward, but that it was two “pretty difficult” days. Baumbach added that it was “harrowing” and they’d often have to stop for a break, with the actors either going to their rooms or taking a walk around the block to regroup. “They would run the whole scene almost every time. It was like watching two of the best athletes compete,” Baumbach said. “In many ways it was one of the most rewarding experience I’ve had as a director.” AP

FilKor Youth Orchestra formed to celebrate diplomatic PHL-Korean relations THE Korean Women’s Association in the Philippines, headed by President Hyun Joo Julia Lee, held auditions for its 1st FilKor Youth Orchestra members and organized the FilKor Youth Concerto Competition on August 24 at Clarion School of Performing Arts in Bonifacio Global City, Taguig. FilKor Youth Orchestra is the first youth orchestra for both Korean and Filipino young talents age 22 and younger. The orchestra is organized as a part of the celebration of the 70th anniversary of diplomatic relations between the Philippines and Korea. Julia Lee of KWA said, “We believe, through music, our young generations from the two countries will learn from each other, be united and share similar values. The future of the two countries’ relations is up

to these young talents, and what better way to convey the message than forming an orchestra from these two countries and sound in unison.” The judges for the orchestra audition and concerto competition were Jeffrey Solares (executive director and associate conductor of Manila Symphony Orchestra), Sara Maria Gonzales (associate concertmaster of Manila Symphony Orchestra), David Jerome Johnson (cofounder and artistic director of Clarion Chamber Ensemble), Graham Dwyer (music critic and pianist), Aeja Chun (pianist), and Anthony Sy (professor at the University of Santo Tomas and pianist). A total of 44 young musicians were auditioned for the FilKor Youth Orchestra and 32 of them made it to the orchestra. Four finalists

were selected from 16 contestants in the FilKor Youth Concerto Competition, namely, Franz Jensen T. Andra on clarinet, Irene Jaemin Lee on piano, Jeanne Rafaella I. Marquez on violin, and Emanuel John C. Villarin on violin. The four finalists will be performing the works of Weber, Tchaikovsky, Sibelius and Saint Saens for the finals with the orchestra on October 13. The 1st FilKor Youth Orchestra concert will be joined by the Manila Symphony Junior Orchestra and held on October 13, 4 pm, at Cultural Center of the Philippines Little Theater. The FilKor Youth Orchestra is initiated and presented by the Korean Women’s Association in the Philippines, in collaboration with Clarion Chamber Ensemble and Manila Symphony Junior Orchestra.

Wanderland returns for another marathon of music

GLOBE is gearing up once again to bring Wanderland 2020, the country’s premier music and arts festival. Since its first staging in 2013, Wanderland has steadily grown into what is now a two-day celebration of music and arts showcasing live performances from local and international indie legends and up and comers. Bon Iver, Daniel Caesar, Honne and Death Cab for Cutie have performed at past Wanderlands; along with local heavyweights, such as UDD, Urbandub, Ben & Ben and IV of Spades. Every year is more exciting than the last, so it’s no surprise that anticipation for Wanderland 2020 has begun this early. Next year’s Wanderland promises to be another stunner, and Globe is making sure that you get in on the action before everyone else does. Scheduled for March 7 and 8, 2020, at the Filinvest City Events Grounds in Alabang, Wanderland 2020 will have festival-goers celebrating their winning moments with the theme of sports and athletics, to celebrate the historic event. More information is available at glbe.co/wanderland.

Image BusinessMirror

Wednesday, September 4, 2019

Six practical strategies for going green at the workplace THE call to go green these days is strong. With controversial violations of environmental laws in Boracay and Manila Bay, there is a growing awareness among entrepreneurs for the need to look for cost-effective and sustainable solutions for their businesses. Legislation is also keeping up with this green movement. From the Philippine Green Building Code to the recent signing of the Energy Efficiency and Conservation Act, the Philippines is setting the stage for environmentally-responsible and resourceefficient practices that can help curb the threat of climate change. “The problem is,” said BPI Sustainable Energy Finance Head Jo Ann Eala, “some companies find going green daunting. They think of the high cost of technology, complex solutions, and radical culture change. They ask, ‘Where do we start’?” Fortunately, for building construction projects, according to Eala, the Philippine Green Building Code has six practical, easy-to-remember guidelines: 1. ENERGY EFFICIENCY. Reduce energy consumption by simply switching to LED lights, inverter airconditioners or chillers, operable windows for natural ventilation, light-colored paints and roof insulation to reflect heat, and soft-starting escalators with motion sensors. Savings of around 30 percent to 90 percent can easily be achieved with these innovations. 2. WATER EFFICIENCY AND WASTEWATER MANAGEMENT. Conserve water for cleaning by simply using dual-flush, low-flow faucets and showers. Learn to harvest rainwater. You’ll not only lower your operating cost but also help solve the water shortage problem. 3. INDOOR ENVIRONMENTAL QUALITY. Maintain good air quality within your building by using air filters, ventilating fans and restricting smoking to specified areas. You’ll protect building occupants from health disorders, such as sick building syndrome and respiratory illnesses. Maintaining a healthy environment within the building is a growing trend in more developed communities, and there is a strong clamor among building occupants as well. 4. SITE SUSTAINABILITY. Using gravel bed, collecting rainwater, filtering sediment, and keeping existing endemic foliage can help prevent soil erosion and water pollution during site clearing, grading (or adjusting the slope and elevation of the soil) and excavation. Blend landscaped areas with indigenous or adaptable species of grass, shrubs, and trees to allow recharging of the natural ground water reservoir, cool the building surroundings and provide indoor to outdoor connectivity for the building occupants. 5. SOLID WASTE MANAGEMENT. Use eco-friendly recyclable materials, less plastic and paper, and provide a fully enclosed and easily accessible garbage facility called the materials recovery facility for the collection and segregation of solid waste materials. These help reduce both the volume of waste going to landfills and conserve resources used to produce new materials. 6. MATERIALS SUSTAINABILITY. Ask your suppliers if they use nontoxic materials, such as composite wood that does not contain urea formaldehyde. Find out if their paints, coatings, adhesives and sealants, used indoors or in non-ventilated areas, are free from or has tolerable levels of volatile organic compounds. “Some business owners deprioritize incorporating eco-friendly solutions and innovations in their businesses because they don’t immediately see the advantages that this shift to sustainability brings to their businesses. But wide-ranging benefits—from financial, operational, reputational, environmental, to health and social gains—extend not only to the organization but to the whole community,” said BPI’s Eala. Through programs that provide the necessary tools and the means to go green, such as the Sustainable Energy Finance (SEF) program of BPI, companies will find green initiatives easier to implement. “SEF programs, such as what we have in BPI, can package a corporate or business loan with free technical assessments, and sound advice to both the SME sector and mid-sized to large corporations. Our sweet spot is the SME sector. They do not have their own engineering departments and they need advice in studying project proposals and projections, choosing the right technology and innovations, and deciding which provider to partner with. This is all part of our commitment to sustainability, financial inclusion, and making lives easier for clients and their own customers,” said Eala.

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Square pegs in circles SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

OTHING is more excruciatingly corrosive to your career as when you are forced to be in a company that no longer fulfills your career goals and personal growth. Since you spend a third of your life working, you need to look for a job which will not only help you grow in your career but also complement your personal growth. Forcing yourself to remain in a pernicious work environment will exhaust you and burn you out faster than the work itself. You need to be in a job which will not only allow you to be who you are but also celebrate your unique abilities and strengths. To find that job, here are some things to think about. One of your considerations when looking for a job is if it will bring you personal fulfillment and satisfaction. I have good friends who choose to stay in their jobs even if they know they can make more money somewhere else, because they enjoy what they are doing. Some of them are teachers who have made it their life mission to educate the youth, while others chose jobs which they know will generate more jobs for others. But you need to know first what job will make you feel fulfilled and satisfied. And you will know these feelings when you willingly do the work without anyone telling you to do so. I know of people who would work until the wee hours of the night and, yet, feel refreshed and upbeat in the morning because they love what they do. I also know of some people who count the minutes until break time or going home. Find that job which perks you up and makes you feel excited because passion will make you feel fulfilled more than, yes, the pay itself. This brings me to the company’s vision and mission which should be aligned to your own personal and career growth. The vision of a company helps you understand why the company is there to begin with, while the mission statement helps you understand how the company will actually get there. Vision is the “why” while the mission is the “how.” And when you are looking for a job, look at the company’s vision and mission statement because those will help you assess if you are both headed in the same direction. Examine whether you subscribe to their vision and mission, and if this resonates with your own personal goals. Because if it does not, you will likely find your personal values compromised and you will end up resenting the company and the people who work there. So before joining a new company, understand what they stand for and evaluate if you yourself believe it. Corollary to the vision and mission statement is the company profile and history. The company profile shows you the company’s interactions with other companies, and which industries they regularly come in contact with. Knowing this helps you understand the different business needs of the company, and how you can contribute to its growth and development. Understanding the company’s history will also help you evaluate the stability and longevity of the company. In a fast-changing economy, it helps if the company is stable so you can have peace of mind when doing your work. I have recently decided that the next company I will join will be the one where I will retire. People tell me it is too early to think of retirement but I would like to spend the last of my working days in a stable company. My team has just finished developing an

The job you choose will either excite you or leave you feeling tired all the time. Choose carefully which job you will take because it will affect not only your personal happiness, but also the people around you. onboarding program for new hires and I realized that aside from pay, there are more important considerations when looking for a job. People jump from one job to another just so they can have better pay but in reality, that is not actually what makes people stay in a company. One of the considerations people look at is the benefit package which comes with the pay. Which is why in our onboarding, we focus so much on the different perks of being in the company. These perks and other benefits make people feel appreciated, and they come to see the company as one that will take care of them. So when you are considering a new company to join, either as a fresh graduate or a seasoned employee, do not just look at the pay but ask what other benefits the company can provide. I know colleagues who choose to stay in a company even if their pay is lower because the benefits they enjoy far outweigh what they get in a month. It all boils down to what you are willing to accrue in benefits which are not covered by the basic pay.

Another consideration you should not overlook is the culture of the team and the organization, and if you see yourself being part of it. Team culture includes personality types and temperaments, as well as how they spend their spare time and common interests outside of work. You will be spending the majority of your time at work and it helps if you get along well with most of your team. Of course, you will always have that one person you will not get along well with but consider how often you interact with that person and make a decision if it is worth it. They say these people are sent to us so we can grow in how we deal with others, but also consider how one person can impact your work in the long run. Outside the team, look also at the company culture—how they value their employees, levels of bureaucracy, and opportunities for growth and development. This brings me to another consideration—your career advancement within the organization. This depends wholly if you want to climb the corporate ladder and manage people, or if you choose to continue being an individual contributor. If you do choose to be a people manager, how do they promote people and how rigorous is the process? If you do choose to be an individual contributor, are there advancements in pay and benefits as you continue to become the specialist in a certain process or tool used in the company? More and more companies are acknowledging the fact that not all people would like to lead others but choose to become specialists in their own process or tool. And when they are forced to lead people just so they can have better pay and benefits, these people leave because they did not want to lead in the first place, bringing with them their expertise. You need to decide if you want to lead people or become an individual contributor, and then ask what are the advancement options available in the company. The job you choose will either excite you or leave you feeling tired all the time. Choose carefully which job you will take because it will affect not only your personal happiness, but also the people around you. Your job defines your personal goals and ambitions, and when you know what you want, it becomes easier to choose which job will not only make you happy but also make you feel content and satisfied. ■

Walk, run and see ‘Pink’ BREAST cancer remains one of the top causes of death among Filipino women. In fact, according to the Philippine Council for Health Research and Development, one in 13 Filipinas will develop breast cancer in her lifetime. With the Philippine Obstetrical and Gynecological Society also reporting data (February 2017) that shows the Philippines having the highest prevalence of breast cancer among 197 countries, the need to educate women on the importance of early detection as the best way to beat the disease is as urgent as ever. Avon Philippines believes that no woman should be left in the dark about breast cancer any longer. As the leading corporate supporter of the cause, the company is teaming up with Color Manila for the Pink Light Night Run and Walk for Breast Cancer 2019 to raise awareness on the disease, and the breast self-exam as the surest means to detect it early. Happening on October 19 at the Filinvest City Event Grounds, Pink Light marks the return of Avon’s signature Run and Walk, the annual initiative that many cause supporters have participated in through the years. This is also the first time ever that it will be a

night event with participants going through a fun course while getting caked in bright pink powder along the way. “Avon continues to shed a bigger, brighter light on breast cancer every year,” said Razvan Diratian, general manager of Avon Philippines. “It’s part of our DNA as the company that advocates and supports vital issues affecting women, and one of our top causes is breast cancer awareness.” Diratian pointed out that after conducting a global survey in 2017, Avon found that there was a knowledge gap among women about the symptoms of breast cancer and how to lower the risk of developing the disease. “This was how the Avon Breast Cancer Promise was born, making sure that every woman is aware about the disease and how to fight it. We’re using the pink light to remind women to make the breast self-exam a habit for the early detection of the disease,” he said. Jay Em, Color Manila president, shared, “We’re very proud to be partnering with Avon to underline an important issue everyone should be concerned about. Color Manila is eager to inject the fun and vibrancy it’s known for into the Pink Light Night

Run and Walk, and get more people to actively support a worthwhile cause in an enjoyable and exciting way.” Everybody who joins the Pink Light Night Run and Walk event will be donating and providing assistance to the Philippine Cancer Society, Avon’s longtime partner in its fight against breast cancer. Everybody can join the Avon Pink Light Night Run and Walk for Breast Cancer by running in either the 3K, 5K or 10K distances. Participants can also choose from different race kit packages that all come with a special Pink Light head lamp to guide runners through the night: Warrior—P950 (singlet, race bib, finisher’s medal, sponsor freebies); Fighter—P1,500 (singlet, race bib, finisher’s medal, sponsor freebies, drawstring bag); and Hero—P2,000 (t-shirt, race bib, finisher’s medal, sponsor freebies, drawstring bag) Registration and more information can be found at www.colormanila.com, www.smtickets.com or www.travelbook.ph.

BusinessMirror E1 | Wednesday, September 4, 2019 • Editor : Tet Andolong

Philippines an important market for RedDoorz By Rizal Raoul S. Reyes

@brownindio

HE Philippines is a vital market for RedDoorz online hotel booking’s growth in the Southeast Asian region, according to the company’s chief communications officer. “The Philippines is a super important market for us as it has continuously shown great potential,” Liviu Nedef, senior vice president for marketing and communications of RedDoorz said in a recent press briefing held in Makati City. Nedef said the Internet booking platform is one of the major growth drivers of the company stressing that it simplifies the short-term transient rentals and bookings. He also noted the RedDoorz mobile app has drastically improved the speed and convenience factors that were once considered points of friction for travelers. Meanwhile, the entry of RedDoorz in the local hospitality industry resulted in the changing of the balance of power between the slow-moving and inefficient luxury hotel brands and affordable hotels that appeal to smart, tech-savvy travelers. Furthermore, Nedef said various payment options from different players—from credit cards, DragonPay (via bank transfer and 7-Eleven outlets) and “pay-at-hotel without credit card guarantee”—has made RedDoorz the primary destination for hotel guests resulting to repeat bookings. To reward loyal clients, the company has introduced the RedCash rewards system, exclusive discounts and partner deals through RedClub membership raises the bar on consumer perks and incentives. “Affordability is the key to growth. We want to democratize the hotel accommodation in the country,” Nedef pointed out. Stefanie Irma, country head of RedDoorz Philippines, pointed out that RedDoorz has embarked on huge expansion program over 150 hotels across 10 cities since the first quarter of 2019. It has directly supported the creation of over 1,000 jobs across those 10 cities where its hotels are located. RedDoorz locations include Metro Manila, Baguio, Pampanga, Tagaytay, Palawan, Cebu, Iloilo, Bacolod and Davao with Bohol, General Santos City, Roxas City and Caticlan as new destinations.

By year-end, new RedDoorz outlets will open in tourist-heavy Boracay Island, Antique, Capiz, Negros Occidental, Dumaguete and Tacloban City. An even aggressive nationwide expansion is eyed in 2020. Since majority of the travelers do not have budgets for four-star or five-star hotel accommodations, Irma said RedDoorz has developed packages catering to budgetconscious travelers from small and medium entrepreneurs to millennial backpackers. She said travelers only need clean rooms, clean sheets and basic amenities that will give them a pleasant travel experience. This has resulted in a travel boom that has, in turn, revved up local businesses, opened up jobs, created support industries and benefited local governments. Most of all, little known travel destinations are being identified and given focus, making these revolutionary virtual hotel operators (VHOs) enablers in the government’s campaign to promote Philippine tourism. Founded in 2015 by a team of senior executives with deep experience in the online travel and hospitality industry, and has grown into a regional powerhouse with operations in Indonesia, Singapore, the Philippines and Vietnam, RedDoorz has been growing by five times year-on-year. Raenald Renz de Jesus, country marketing manager of RedDoorz, said hotel partners could grow their businesses while streamlining their operations. He added RedDoorz’s solutions help partners manage distribution, pricing, marketing, and customer experience and technology solutions—offering an end-to-end platform powered by an advanced technology infrastructure. As a tech-driven company, he

pointed out that RedDoorz leverages the benefits of technology in its operations. It has an artificial intelligence-powered pricing, marketing and customer profile systems to help them craft their strategies. “Our long-term

goal is to go where the Filipinos want to go,” he said. Meanwhile, RedDoorz secured a fresh investment of $70 million at the start of third quarter of 2019, as part of its first close of Series C funding. This was

announced less than two months after the company closed its Series B funding with $45 million in the second quarter of 2019; bringing the total funds raised to approximately $140 million since the launching of the company.

Business

E2 Wednesday, September 4, 2019

SCG pushes mainstreaming of circular economy

Story & photos by Bernard L. Supetran

EADING Thai cement firm Siam Cement Group Public Co. Ltd. (SCG) pushed anew for the adoption of earth-friendly systems and technologies into the mainstream at the recent SD Symposium in Bangkok to help drive Thailand and Southeast Asian region in attaining sustainable development and curbing the environmental crisis.

A school upcycling project in Bangkok’s Bang Sue district which is supported by SCG.

Tantivejkul to Thai Prime Minister Prayut Chan-ocha for appropriate action. The action plan includes infrastructure overhaul to support waste management, promoting the business sector to manufacture products conducive to recycling, raising of public awareness to reduce waste generation and increase recycling, and strict law enforcement. “I am very pleased to see the efforts of all sectors brainstorming to seek a solution. The government will work on improving infrastructure and make it more conducive to businesses’ transition, coupled with encouraging consumer’s behavioral changes. Therefore, the business sector must focus on improving the manufacturing process as well as developing the business models that integrate innovations,”

Chan-ocha said. The said action plan will complement the Thai government’s National Solid Waste Management Master Plan (2016-2021), and Roadmap for Plastic Waste Management (2018-2037). “ T he countr y development based on the circular economy under the integrated network of all sectors will boost the country’s competitiveness and economy expansion with less dependence on resources. This is to improve lives and society without passing a burden to our children. I, as the government leader, will bring what you share and brainstorm today to the relevant government agencies for further implementation, as well as raising awareness among the public together to put it into action,” he added.

SCG has adopted the circular economy principles and put it into “SCG Circular way” practices by committing to the optimum usage of resources ranging from production to consumption and recovery processes. In 2018, it has converted about 313,000 tons of industrial wastes into renewable raw materials and 131,000 tons into fuel substitutes. It also aims to reduce the production of single-use plastics from 46 percent to 20 percent, and increase the proportion of recyclable plastic packaging to 100 percent by 2025. As part of its environmental commitment, greenhouse-gas emissions during SCG’s seven events of SD Symposium totalling to 296 tons of carbon dioxide had been offset by carbon offset projects comprising the bioenergy project and the waste heat reuse for cement production. The company’s road to sustainable development formally started in 1991 with the adoption of its Environmental Conservation and Sustainability Policy, and subsequent programs have made it a corporate social responsibility and sustainable business direction, culminating in 2010 with the SD Symposium which highlighted multisectoral collaboration. Established in 1913 by a royal decree of King Rama VI to produce cement, SCG has since grown continually and diversified into cement-building materials, chemicals and packaging in Southeast Asia. It is the largest and oldest cement and building material firm in Thailand and the region, and was ranked in 2016 by Forbes as the country’s second-largest and the world’s 604th-largest public company. In 2011, it was named by FinanceAsia as among Asia’s Best Companies, which included Best Corporate Social Responsibility Award and Best Corporate Governance Award.

commitment to the care of the environment. Protecting the watersheds promotes sustainable agriculture, ecological security and water resource preservation. Giant bamboo and mahogany seedlings were planted by employees along the Calaanan Creek to help protect the soil in the

Iponan Watershed, of which it is a part, and prevent it from washing downstream. Maintaining a forest cover, as well as following environmental-enhancing practices leads to a sustainable watershed. People often think of “land-based” climate solutions or nature as being some-

thing that’s far removed from the urbanism that more than half of the population lives in. But forests can be the unseen heroes of natural climate solutions where green spaces provide health and community benefits, as well as shelter us from the full effect and impacts of climate change.

Thailand Prime Minister Prayut Chan-ocha (center) with SCG executives led by its President and CEO Roongrote Rangsiyopash (third from left)

An artificial coral reef prototype, one of SCG’s technology development projects.

Themed, “Circular Economy— Collaboration for Action,” the oneday forum gathered over 1,500 participants and 45 stakeholder groups from the government, private sector, community undertakings, experts and producers of earth-friendly products. Circular economy is the use of resources in the value chain and increased efficiency of waste management, raw materials, expired products and energy to return to the resources circulated in the system using appropriate processes. “SCG is committed to the Circular economy and started last year with ourselves. Now we are collaborating full force and we have generated more than 40 partnerships. Most important, we started to have a lot of communities that have declared themselves as a zero-waste community. We want to make this kind of change to ensure that we have a sustainable future, not only for Thailand but also for the Asean economy,” said SCG President and CEO Roongrote Rangsiyopash. He said that since its founding

in 1913, SCG has been driving sustainable development in Thailand and the Asean region by promoting balance between society, environment and business. “More public awareness and behavioral transition in manufacturing and consumption to regenerative practices must occur along every value chain. Only with cooperation can the circular economy become a reality,” he added. Rangsiyopash pointed out that the key areas for collaboration are on sustainable business particularly with the World Business Council for Sustainable Development (WBCSD), the United Nations (UN), and the Thai Chamber of Commerce, as well as cooperative efforts on ocean waste, better living quality of people in communities and industrial waste management. Initiated in 2010, the Thailand SD Symposium has created an extensive collaborative network in the country, the Asean region, and international organizations which foster the operations in various sectors for the attainment of the

Thailand SD Symposium prime movers led by Rangsiyopash (first row, center)

United Nations Sustainable Development Goals. The annual forum featured talks from the Alliance to End Plastic Waste (AEPW), the Global Cement and Concrete Association (GCCA), Circular Economy for Flexible Packaging (Ceflex), and Swedish furniture retail giant Ikea on accelerating the circular economy. T he e v e nt a l s o i nc lu d e d breakout sessions on Thailand Waste Management Way Forward, Transformation to the Circular Built Environment, and Partnerships for Circular Economy, with industry experts which tackled sectorspecific measures. The symposium concluded with the presentation of the four-point Strategic Proposal Presentation for Thailand Waste Management by SCG Vice Chairman Sumet

Haven within a township T

REES matter to all of us. Trees provide shade, mitigate floods, absorb carbon dioxide, filter air pollution, and provide habitats for birds, mammals and other plants. The rich biodiversity within a rainforest is also incredibly important to the well-being of humans and of the planet. In an effort to preserve the existing flora and fauna in its 400-hectare township in Cagayan de Oro, Pueblo de Oro Development Corp. (PDO) signed in 2005 a memorandum of agreement for the first Urban Rainforest in the Philippines with the ICCP Group Foundation Inc., the Bukidnon local government and the Department of Environment and Natural Resources (DENR). Pueblo de Oro started its preservation efforts by planting more endemic plant seedlings, or “wildlings,” sourced from the rainforests of Mount Kitanglad and other nearby mountains in Bukidnon. By propagating them in areas such as the ridges and knoll of the Urban Rainforest, native animal species were encouraged to build their nests and thrive. The Pueblo de Oro Urban Rainforest is a 40-hectare rainforest in the heart of Cagayan de Oro’s growth area, abundant with different plants and animals. According to PDO manage-

ment, having a township wherein trees are abundant is not just for aesthetic purposes, but also benefits the species living within the area. Company representatives also added that for the residential projects, the trees reduce the urban heat island effect through evaporative cooling and minimize the amount of sunlight that reaches parking lots, houses and other open areas.

Preserving biodiversity

In the years since the project kicked off, PDO has sought and joined forces with other partners and agencies in its efforts to preserve the Urban Rainforest to welcome and nurture the species that settled in the township. As a result of the preservation efforts, the grasslands and creeks in the forest are now home to numerous species of animals—from small insects to beautiful flights of birds. There are at least 20 species of birds that can be found within the township. They have been seen taking flight over the combination of grasslands and woodlands in the area, including different breeds of Kingfishers and the Grass Owls, which are decreasing in number because of their loss of home.

These are among the flora and fauna that the Pueblo de Oro Urban Rainforest has been protecting and preserving for more than 14 years. PDO has made it a mission to protect and multiply these endemic species. The developer is concerned about the reality that our wildlife is affected by the loss of its natural habitats.

Community involvement

The company’s employees and the community play a part in the continuous effort to develop the rainforest through regular tree-planting activities. Thousands of seedlings have been planted since the launch of the urban rainforest and it continues on until this day. More recently, PDO employees were joined by the Archdiocese of Cagayan de Oro, represented by members of the Laudato Si, and Faith and Light communities, parishioners from the St. Francis Xavier Chaplaincy of Pueblo de Oro who have heeded Pope Francis’s call to “Care for Our Common Home.”

Watershed protection

Coupled with the efforts of PDO to preserve and nurture the urban rainforest, the protection of watersheds is also a part of their

sMirror

Editor: Tet Andolong

Perfect harmony of progress and nature at Filinvest City

ITH most of the old green spots in Metro Manila being paved over and turned into a concrete jungle, people in the metropolis are looking for places where they can enjoy a lush environment and breathe fresh air without having to travel far for work, business or other activities.

Walk, play, run or be at ease with friends and family

Filinvest City in Alabang knows this only too well. It creates an inspiring and invigorating environment that promotes ease of movement and active lifestyle all year round, with wide, open spaces and long stretches of greenery that allow members of its community to breathe clean, fresh air and to fully experience the great outdoors. “We aim to show everyone that progress and respect for nature is possible. Greens definitely benefit people and we want to ensure the quality of life is prime in Filinvest City. This is why we registered for LEED,” said Don Ubaldo, Filinvest Alabang Inc. vice president for Townships. Although it is primed for business, Filinvest City has responded to the need for breathing room by drawing up a master plan that

Enjoy a leisurely walk along the Festival Mall River Park

The mean green office machine

FFICE spaces could always benefit from a little sprucing up to decorating the space and improve employees’ moods. A simple desk plant has the potential to improve various productivity issues. In the Philippines, companies are catching on to the positive benefits adding greenery to workspaces can have in facilitating better, more relaxing work environments. Building nature into the workspace has been shown to dramatically improve productivity, perceptions of air quality, workplace satisfaction and cognitive function. A Harvard study revealed a big difference between people working in workspaces with green-enhanced offices and people working in workspaces with no plants. Employees get a 26 percent boost in cognition and 30 percent fewer sickness-related absences when they work at a beautiful, green location. The study also showed that there’s a 6 percent improvement in the quality of their sleep, which means it doesn’t only have great work advantages—it also has its perks for the mind. In a University of Exeter study, researchers examined the effect of green of f ices on staf f ’s perceptions of air quality, concentration levels and workplace satisfaction. They found that the existence of plants in the work environment significantly increased workplace satisfac tion, self-repor ted levels of concentration and perceived air quality. A further study into, “The Impact

of Green Buildings on Cognitive Function” also found that improved “indoor environmental quality,” or the presence of plants, doubled occupants’ cognitive function test scores. These findings are being put into practice across the world, including at the Apple headquarters in California. There approximately 10,000 trees have been planted across the campus in a bid to increase employees’ access to nature, and, thus, aid their productivity levels. To be able to boost your productivity and also benefit from the health advantages of having plants at the office, the size of the plant does not matter. Whether you just have some small cacti on the table, or a huge tree in the middle of the workspace, it will do wonders for office wellbeing. That’s enough reason to buy that beautiful little Bonsai tree for your desk. Several office buildings in the Philippines are applying these concepts and more in their layout, management and design. Many of these buildings are LEED or BERDE-certified, industry certifications from the United States and the Philippines respectively that verify a building’s green features from its design to its operation and maintenance. Companies that follow the green thread feature industry-leading, efficient systems for saving energy and water, managing waste, and recycling, are deemed to be paying attention to employee productivity and want the best work spaces. If you’re looking for some quick ways

to boost productivity and wellness in your office space, here are some tips to make the most of a welcoming, green office environment. First, keep in mind that to keep your greens alive and healthy, it’s crucial to place your plants in the right spot. Give them too much sunshine and warmth and they will die. Give the plant too little light and the same will happen. Therefore, make sure to do some research on the exact amount of light that enables your plants to thrive. Spice things up and move some furniture around to create the perfect spot for your plant. Why not switch desks, which is quite easy when you’re working at a coworking space. Are you living or working in a dungeon? Make sure to buy a snake plant, one of the best indoor low-light plants out there. Another especially nice feature of this plant is that it can handle infrequent watering (like once a month, ideal for the busy professional). Other low-maintenance favorites include the Jade Plant, African Violets, Peace Lily, English Ivy and the Spider Plant—one of the easiest plants to grow indoors. It is often displayed in hanging baskets, so it can also create some visual interest in an office space. It is, perhaps, no surprise that more and more companies are placing increased emphasis on adding greenery to their carefully designed offices. The result will surely be better productivity, happier staff and improved employee retention.

seamlessly weaves structures with nature to achieve a perfect balance between open spaces and buildings. Among the features that make Filinvest City truly green are its major parks, which also feature stimulating and relaxing installations. The Spectrum Linear Park is a kilometer-long greenbelt that connects the northern and southern zones of the Central Business District (CBD). Its tree-lined walkways are perfect for recreational outdoor activities, or simply to hangout, relax and enjoy the great outdoors. The Central Park is envisioned to be one of the public event spaces within Filinvest City. It is an ideal venue for concerts and outdoor activities because it serves

as both venue and open space for the community. Set to be a major iconic space within Filinvest City, the Creekside Park offers a more natural setting and has a distinctive mix of development and public art. Other parks at the CBD are the Festival Mall River Park where people can walk along the creek waterline and experience the harmony of nature within an urban setting, the Festival Mall Water Garden where al fresco dining can be enjoyed, as well as the Filinvest Axis Park where people can gather, interact, and enjoy activities within its signature vibrant combination of nature and business. Filinvest City’s master plan makes it a place where people can not only work, but also play whenever they feel like it. Runners and

walkers can indulge their passion in comfort, as lush tree canopies protect sidewalks from the harsh sun. Integrated bike lanes in the CBD’s major thoroughfare allow bikers to pedal around safely and in comfort. Community members and visitors can play, relax and exercise in whichever park they like. Or they can simply enjoy the amazing variety of wild birds that live and roam among the trees of the city. By integrating green, recreational spaces into its master plan and creating a network of green oases in and around the CBD, Filinvest City preserves the laid-back and relaxed yet still fast-paced environment without missing the hustle and bustle of city living that makes this part of Metro Manila distinctive and attractive.

The preferred housing of ordinary Filipinos

ITH children’s education and basic necessities on top of the average Filipinos’ priorities, acquiring their own home has always seemed like a remote possibility. For years, most Filipino families resigned themselves to spending a chunk of their income on rent money, staying in tiny dwellings located in congested neighborhoods. That is, until Bria Homes came into the scene. Now considered the fastest-growing mass housing developer in the country, Bria Homes brandishes its winning formula— Affordability (mura) + quality (dekalidad) = a beautiful Bria Home for every Filipino—as it makes families‘ and individuals’ dream of owning a home come true. This is why aspiring homeowners who seek affordable, sturdy and good-quality homes turn to Bria Homes. With over 50 mass housing projects in the country to date, Bria has steadfastly remained true to its goal of placing such homes within the reach of average Filipino workers, who may now own well-designed condominium units and homes in modern and safe communities for as low as P1,897 per month. To make it even easier for prospective buyers, flexible payment schemes like bank financing and Pag-IBIG are made available to them. Affordability and quality, however, are not the only key features of a Bria home. All Bria communities are family friendly and safe, secured by guarded entrances and perimeter fences. Recreational facilities like basketball courts are also fixtures in Bria developments. Bria homeowners are, likewise, assured of competent main-

”House-and-lot” packages and condominium units in all Bria communities come in various designs and sizes, all geared to adapt to the prospective homeowners’ tastes and requirements

tenance and administrative services from its highly trained and courteous employees. Finally, Bria communities are in close proximity with hospitals, schools, churches, retail hubs, various modes of public transportation, and major roads and highways. To date, Bria has built homes in Bataan, Tarlac, Pangasinan, Pampanga, Bulacan, Cavite, Laguna, Rizal, Camarines Sur, Samar, Leyte, Negros Oriental, Misamis Oriental, Bukidnon, Davao del Norte, Davao del Sur, South Cotabato and North Cotabato. In all these progressive towns and cities, Bria Homes is the average Filipinos’ consistent choice because of its affordability and high quality.

Bria Homes is a subsidiary of Golden Bria Holdings Inc., considered the third-largest real-estate company in terms of market capitalization valued at more than P200 billion. The fastest-growing mass housing developer in the Philippines, Bria Homes is primed to bring affordable house-and-lot packages and condominium units closer to ordinary Filipino families. This is the goal that drives every single employee in the company, for which the ultimate fulfillment is seeing a client happily moving into Bria’s homes. To know more about Bria Homes, like Bria Official on Facebook, and follow @TheBriaOfficial on Twitter and Instagram.

Entrepreneur BusinessMirror

E4 Wednesday, September 4, 2019 • Editor: Vittorio V. Vitug

Mober rolls out Driverpreneur program for jeepney drivers

By Rizal Raoul S. Reyes

@brownindio

Contributor

he estimated tens of thousands of public-utility jeepney drivers across the country will now have a fair chance to evolve from men behind the steering wheel earning a living through the traditional boundary system to fledgling entrepreneurs. Through its Driverpreneur program, on-demand logistics provider Mober recently rolled out its innovative program to empower its driver partners. “With this program, drivers will have an even easier time becoming an entrepreneur with Mober,” said Dennis Ng, founder and chief executive officer of Mober said in a news statement. Through the program, Ng said, individuals can rent a van from one of Mober’s partners that they can use to accept delivery requests made on the Mober app. The drivers pay a daily amount depending on the type of van they rented,

and after five years, the van will be under their ownership. Under the previous setup of Mober, Ng said, potential partners were required to provide their own vans in order to work with Mober. However, individuals who wanted to become a Mober driver-partner did not always have a van to use, while partners with fleets of vans were having trouble finding high-quality drivers to operate them.

Supply, demand mismatch

Moreover, Ng said he had observed that in Mober’s over three years of operations, the driverpartners that received the most

Seoul Declaration asks PHL govt for risk-proportionate regulation of nicotine

ublic health experts and consumer groups from Asia Pacific called on the Philippine government to impose risk-proportionate regulation on safer nicotine products, such as electronic cigarettes, heat-not-burn tobacco and Swedish snus to encourage Filipinos to switch from smoking cigarettes. “We call on the government of the Philippines to allow its citizens to have access to safer alternatives to cigarettes through risk-proportionate regulation of safer nicotine products, including ecigarettes, heat-not-burn tobacco and snus,” the Seoul Declaration which was signed by experts and consumer groups on August 29, 2019, stated. Hundreds of experts and consumers from 18 countries gathered at GLAD Hotel Yeouido in Seoul, South Korea, to attend the third Asia Harm Reduction Forum, which was jointly organized by the Korea Harm Reduction Association and Yayasan Pemerhati Kesehatan Publik (YPKP) Indonesia. Nancy Sutthoff, executive coordinator of the Coalition of Asia Pacific Harm Reduction Advocates, said the Seoul Declaration is a consumer declaration calling on the governments of Thailand, India and the Philippines to address their planned ban or restrictive policies on tobacco harm reduction products, such as e-cigarettes, HNB devices and snus. “We decided to do a Seoul Declaration to address these issues and get as many signatures as we can from consumers and experts in the region so that these declarations can be hand-delivered to those respective governments,” Sutthoff who is also the managing director of Paraclete Associates Ltd. said. “In the Philippines, it is not about a ban but about restrictive regulation. In India and Thailand, it is about reversing bans or preventing bans from happening. Right now, in India, within 10 days, they are supposed to ban everything nationwide. In Thailand, there are discussions about lifting the ban for tourists only because they are losing tourism dollars,” Sutthoff said. The Seoul Declaration urged the Philippine government to “realize that

bookings were those that were also the owners of the vans they used. But these driver-owners were a minority, or only 30 percent, of Mober’s entire fleet, highlighting a mismatch between the supply and the demand. More important, Mober’s drivers were often among the 77 percent of Filipino adults who are unbanked or had no formal financial account. This meant that individuals who wanted to work with Mober wouldn’t be able to apply for vehicle loans to purchase their own van due to the lack of a credit score, while Mober’s current driver-partners weren’t able to manage and maximize their income properly because they do not have a bank account. “What inspired me to start this program was how most of the delivery drivers we have are unbanked,” shared Ng. “The Driverpreneur program will help them become an entrepreneur.”

Empowerment

TO address these challenges, Ng introduced the Driverpreneur program, which aims to create more driver-partners who have their own vans and manage their own businesses as Mober drivers. This not only increases the quality of

smoking causes the vast majority of tobacco-related death and diseases.” “Burning tobacco is the main cause of smoking-related diseases, not nicotine or inhaling vapor. Tobacco use causes at least 1 million deaths per year in the Philippines, and smoking causes the majority. E-cigarettes provide smokers with an option to get away from smoking and could hasten the demise of the cigarette. We should all want to see that,” the declaration stated. Experts and consumers said the Philippine government should recognize that vaping is dramatically safer than cigarettes and has helped millions quit smoking. “Vaping is not smoking. It uses electronic devices to generate a nicotinecontaining vapor without burning tobacco. Public Health England’s annual reviews of all available evidence have consistently concluded that e-cigarettes are around 95 percent less harmful than smoking. Millions of people have switched from cigarettes to these significantly safer products. Governments charged with protecting public health should welcome that, not discourage it,” the declaration said. The Seoul Declaration also reminded the Philippine government that harm reduction is at the core of the Philippines’s international treaty obligations. The Framework Convention on Tobacco Control defines “tobacco control” as “a range of supply, demand and harm reduction strategies that aim to improve the health of a population.” It said that restrictive regulations and bans serve only to protect the cigarette industry. “Concerns that vaping may appeal to youth or may serve as a ‘gateway’ to smoking are inconsistent with the evidence as e-cigarettes have been gateways out of smoking for millions and have been accompanied by declining youth smoking rates,” it said. “Instead of regulating these products harsher than the tobacco products that kill people, the government should regulate e-cigarettes to maximize the benefits of low-risk alternatives, while minimizing the likelihood they will be used by youth or nonsmokers,” the declaration stated.

Mober’s drivers, but also empowers them by giving them the opportunity to work in purchasing their own van. To apply, each Driverpreneur will pay a daily fee that ranges from P800 to P1,000, depending on the type of van that they’re renting. After five years, the ownership of the van will be transferred to them. Mober will even take care of the maintenance expense of the van during the fiveyear period, reducing costs on the drivers’ end. Individuals with a friend or relative who wants to work as a Mober driver but do not have their own van can also participate in the program. As long as they pay the daily fee, they’ll be able to get significant returns for their investment. The investor will earn not only from the future ownership of the van but

also from the driver’s daily income as they accept delivery requests on the Mober app. “For the individual who will adopt an unbanked driver, they will have a return on investment of 60 percent in five years,” Ng said. Ng added he is happy because the Driverpreneur program is being received very well by Mober’s current partners, with over 100 of them already applying for the program. He hopes that the program ultimately impacts more people, particularly the families of Mober’s current driver-partners who will benefit from the increased social mobility that entrepreneurship opens. “We’re proud to be part of the success stories of our drivers, and we hope the Driverpreneur program will give many others the chance to grow with our company,” concluded Ng.

What inspired me to start this program was [the extent of which] how most of the delivery drivers we have are unbanked. The Driverpreneur program will help them become entrepreneurs.”—Ng

OWWA-LandBank program helps fulfill dream biz of former OFW

Husband and wife Carl and Cynthia Litigio manage their restaurant business named Sikwate House

t was in 1975, the same year that Carl Dean Litigio was born, when his father decided to start a cacao farm in their 15-hectare agricultural land. Little did Carl know that his father’s cacao venture will eventually inspire him to establish Sikwate House, a restaurant in Pagadian City, Zamboanga del Sur now famous for its traditional tsokolate (hot cocoa drink) freshly produced from their cacao farm. Sikwate House—named after sikwate which means “hot chocolate drink” in the local dialect—is managed by Carl and wife, Cynthia Litigio. Operating a restaurant with cacao as its lifeblood has always been a dream for Carl. His early exposure to cacao farming and tablea production, with his parents as his mentors, contributed to this aspiration. In 2000, he officially started his involvement in their farm focusing on poultry farming and his veterinary clinic. Unfortunately, this was the time when the market for cacao plummeted, leaving them no choice but to reduce their cacao farm to half a hectare. Due to this, his dream to build Sikwate House was stalled. It was further delayed when Carl chose to be an overseas Filipino worker (OFW) in 2008 to work at Handelsvereniging Amsterdam International in Saudi Arabia as a farm veterinarian to further his knowledge in dairy farming. Eight years after venturing in Saudi Arabia, Carl got married to Cynthia. But an unfortunate event dawned upon their family a year after their wedding. Carl’s father unexpectedly passed away, affecting the operation of their farm. This led to the couple stepping up to take over the Litigios’ farm and prompted Carl’s return to the country for good. Taking over the family business, however, did not come without challenges. During their takeover, the market for cacao was still discouraging and farmers

preferred to plant more marketable crops. Eventually, with hard work and a little bit of luck, the couple managed to fully revive their cacao farm business when the market for cacao boomed again. This also paved the way for the realization of Carl’s dream to open a restaurant.

A little help goes a long way

AS a returning OFW, Carl learned of the OFW Reintegration Program (OFW-RP) in 2013, where he applied for a loan from LandBank to finance the construction of the Sikwate House and augment their working capital. The couple’s sweet success in turn translated to more jobs for their community, with their restaurant and farm employing 20 full-time staff—all of whom are second- or third-generation descendants of the Litigio family’s first employees. They are also among the few local entrepreneurs who provide jobs for persons with disabilities (PWDs) and senior citizens, and they vowed to continue hiring from these sectors as they grow their enterprise and open more Sikwate House outlets in the future. “It really takes conviction to chase a dream. We are just glad that we have the support of our family, our community, and LandBank when we ourselves were doubtful about this endeavor,” Mr. Litigio said. The OFW-RP is a joint program of the Overseas Workers Welfare Administration and LandBank, which helps OFWs and their families engage in business as an alternative to overseas employment. As of end-June 2019, LandBank has released a total of P1.4 billion in loans under the program. This benefited 1,309 borrowers engaged in various businesses such as palay, rice and agricultural supply trading; poultry; and construction, among others.

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Salarium’s payroll system for SMEs launched in Makati City

o able to serve a bigger group of entrepreneurs, major provider of intelligent business solutions Salarium recently introduced its version 3 of its payroll processing software in Makati City. “We introduced version 3 to cater to clients who are looking for cloud-based solution that will able to lessen their operations costs and no infrastructure cost at all,” Judah Hirsch, founder and chief executive officer of Salarium, said during a recent news briefing. Moreover, Hirsch said version 3 also wants to serve the enterprise market. After establishing a strong presence in the small and medium enterprises (SMEs) market, he said Salarium now wants to test the higher end of the market to broaden its customer base. “We wanted to provide large Philippine enterprises with a highly customizable payroll solution that is ideal for solutions integrators,” Hirsch added. While Salarium already serves numerous SMEs, the update is a complete overhaul that will bring a new level of enterprise-grade payroll to address the requirements of bigger businesses in the Philippines. “Company needs vary on a caseto-case basis, so we decided to shift to a modular microservices-based architecture. This makes Salarium ideal for integrating into an existing structure or system, and it allows us to create highly customizable technological solutions for our clients,” Hirsch revealed. Marc de Jesus, chief technology officer of Salarium, said the company shifted its marketing strategy from distributing the software as a single bundle of services to an individual module so that large businesses need not be concerned about the difficulty of integrating the software because they can choose the specific solutions that meet their needs. He said version 3’s modular setup is a response to the demand for scalable technological solutions to process heavy administrative tasks. As a company grows, de Jesus pointed out that scalability becomes important to maintain the quality and reliability of its services. He added Salarium’s new modules allow scalability that result in faster deployment that enables to deliver faster and more precise and detailed improvements. Hirsch said the new update has enabled Salarium to a scalable management system, versatile timekeeping, sophisticated payroll disbursement and convenient handling of government reports. To enable a user to experience a good user interface, Arianne Gonzaga said Salarium completely redesigned the software to make it easier to access and navigate for both administrators and employees. De Jesus said Salarium also put a great premium in security to protect sensitive information for larger enterprises because of their huge manpower. He said the update takes a state of the art approach that not only covers monitoring user activity and setting advanced permission controls; it also provides an extra measure of security that is inherent to its new structure. Gonzaga, customer support manager, said Salarium will provide continuous and specialized customer support to allow Philippine enterprises to provide their global clients with a 24/7 service. “Clients can reach Salarium at any time, through various channels and with any query so that any potential disruption of service is avoided,” she said. “Salarium wants to alleviate the administrative burden brought on by repetitive tasks so that people can focus their attention on developing skills that maximize their potential. The new update further decreases the administrative burden on human resources in the Philippines, allowing HR to focus on cultivating manpower and have a higher impact on company productivity,” she added. Rizal Raoul S. Reyes