BusinessMirror September 11, 2019

‘CITIRA JACKS UP I.T.-BPM TAXES BY 170 %’

By Elijah Felice E. Rosales @alyasjah

I

NFORMATION-TECHNOLOGY and business-process management (IT-BPM) firms will pay as high as 170 percent more in taxes if they transition to the fiscal regime proposed under the Corporate Income Tax and Incentives Rationalization Act (Citira) bill, an industry leader said on Tuesday.

Rey E. Untal, president of the IT and Business Process Association of the Philippines (Ibpap), told reporters the cost of doing IT-BPM operations in the country will rise dramatically if firms are forced to relinquish their fiscal incentives. Upon surrender of incentives, they will need to shift to paying CIT, which is rated higher

WILD, HEALTHY Wild hogs roam freely at an organic hog farm in Cordon, Isabela. Despite the outbreak of African swine fever in Rizal and Bulacan, hog raisers in the province are confident their livestock remain free of the disease. See related stories on the ASF on pages B3 and A8. CEASAR M. PERANTE

than the 5-percent tax on gross income earned (GIE) they are currently paying in lieu of all local and national taxes.

According to Untal, this shift to CIT will bring about an increase of as high as 170 percent in tax payment for IT-BPM firms operating in the Philippines.

“The range that we have looked at, including inputs from other companies that have done their calculations, the cost difference between now and what it will be two years, three years down the road is a difference of about 130 percent to 170 percent from where it is now. That’s the range [of cost increase],” Untal said.

“It is a range because it depends also on how long the projects have been in a specific company,” he added.

Untal argued that such increase in taxes will, in effect, hike the cost of doing business in the Philippines, making it difficult for firms to expand operations and employ additional manpower. It could also dent growth projections of the industry by between 40 percent and 50 percent.

“Any unplanned cost that gets added to our cost of doing business erodes our ability to globally compete,”the Ibpap chief explained.

Locators will need to relinquish their incentives, including the 5-percent tax on GIE, if the Citira bill is applied to them. Under the proposal, they are given between two years and five years to surrender their tax perks and to eventually shift to paying CIT. See “IT-BPM,” A2

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A broader look at today’s business

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Wednesday, September 11, 2019 Vol. 14 No. 336

FDI slides further, June net inflow down 48.5%

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By Bianca Cuaresma

@BcuaresmaBM

OREIGN businessmen are still reluctant to bet on the Philippines, as the latest data released by the Bangko Sentral ng Pilipinas (BSP) on Tuesday showed that foreign direct investment (FDI) inflows into the country again contracted in June.

Figures from the BSP revealed that FDI posted a net inflow of $430 million in June, 48.5 percent lower than the $836-million net inflows

recorded in the same month last year. FDI inflows have declined for the fourth consecutive month in June.

FDI is the type of investment that is often more coveted, as it stays longer in the economy and creates job opportunities for locals.

$430M

Data from the BSP showed that nonresidents’ investments in debt instruments, or lending by foreign companies abroad to their local affiliates to fund existing operations and business expansion, registered lower net inflows of $317 million, from $570 million.

See “FDI,” A2

FREE FIRE Speech delivered by Foreign Affairs Secretary Teodoro L. Locsin Jr. following the luncheon on board the Spanish Navy Frigate “Méndez Núñez” on September 5, 2019.

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OUR Excellency, Jorge Moragas Sánchez, Ambassador of Spain to the Philippines, Commander of the Méndez Núñez Antonio González del Tánago de la Lastra, Mr. Fernando Heredia, Consul General of Spain to the Philippines, Colonel Ricardo Pardo, Defense Attaché of Spain to the Philippines, Lieutenant Commander David Almeida García, Defense Secretary Delfin Lorenzana, colleagues in the Philippine government, ladies and gentlemen:

Diversify-exports call sounded anew amid poor July imports data

@joveemarie

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PESO EXCHANGE RATES n

Teddy Locsin Jr.

Continued on A6

By Jovee Marie N. dela Cruz

See “Budget,” A2

‘I can’t imagine a world impoverished by the absence of the biggest Catholic nation in Asia’

Net inflow of FDI in June, compared to the $836-million net inflows recorded in the same month last year. FDI inflows have declined for the fourth consecutive month in June

Solons hit ‘gaps’ in ’20 budget AWM AK ER S on Tuesday questioned the “ hanging pork” and the “presidential pork” in the proposed 2020 national budget despite the assurance made by the sponsors of the General Appropriations Bill (GAB) that it is “just, fair and appropriate.”

Gabriela Rep. Arlene Brosas made the statement during the start of plenary deliberations on the 2020 national budget at the House of Representatives.

In the 2020 expenditure program for the Department of Public Works and Highways, Brosas said there is a P1.79-billion “discrepancy” between the breakdown of the agency’s allocations per region versus the total DPWH regional allocation.

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By Cai U. Ordinario

T THE Manila International Container Port (MICP) located at Manila’s south harbor is seen in this September 10, 2019, photo. The Philippines’s trade deficit widened in July after two straight months of decline as exports increased while imports slightly contracted, the government reported. NONOY LACZA

@caiordinario

HE lackluster performance of the imports sector in July will negatively impact on the country’s export earnings beginning in the fourth quarter of the year, according to an economist.

Ateneo Center for Economic Research and Development (Acerd) Director Alvin P. Ang told the BusinessMirror that the country needs to be more creative in the items that it exports, in light of the decline in imports.

On Tuesday, the Philippine Statistics Authority (PSA) reported that imports contracted

4.2 percent while exports grew 3.5 percent in July.

“Exports will weaken [because of this],” Ang said. “We need new primary exports [those that are] purely made in the Philippines.”

Such a call is no longer new, Ang said. Many economists have long been advocating for the country to diversify its exports.

Ang said one way to diversify is to sell products that are purely Philippine made, otherwise, export performance will remain weak. It is estimated that over 40 percent of the country’s exports are also imported from other sources abroad.

PSA data showed imports of raw materials and intermediate goods

US 51.8440 n JAPAN 0.4835 n UK 64.0222 n HK 6.6145 n CHINA 7.2805 n SINGAPORE 37.5872 n AUSTRALIA 35.5702 n EU 57.2876 n SAUDI ARABIA 13.8229

See “Exports,” A2

Source: BSP (10 September 2019 )

News

BusinessMirror

A2 Wednesday, September 11, 2019

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No more overheating risks for PHL–Fitch

By Bianca Cuaresma

A

@BcuaresmaBM

MID the disappointingly slow growth of the Philippine economy in the first six months of the year, overheating risks have now subsided and will no longer be flagged as a problem to the economy, international credit watcher Fitch said.

In its recent Asia Pacific Sovereign Credit Overview for the third quarter of the year, Fitch Ratings said the slowing growth momentum, along with the Bangko Sentral

ng Pilipinas’s (BSP) 175 basis points cumulative rate cut in 2018 have lowered overheating risks.

Fitch noted that among the indicators of dissipating overheating

risks is inflation, which continued to slow down for the first eight months of 2019 to an average of around 3.1 percent compared with the 4.7 percent during the same period last year.

The slower growth for the Philippines will also not be the new normal for the country, as the credit watcher said the economy will recover, albeit modestly in the second half of the year. “ Fitc h e x p e c t s g row t h to improve in the second half of 2019 following a weak first half.

Growth was weighed down by the delay in budget implementation and a weak external environment,” Fitch said.

It reiterated its full-year 2019

3.1%

Average inflation for first eight months of 2019, compared to 4.7 percent in the same period last year. Fitch noted that among the indicators of dissipating overheating risks is inflation. growth forecast of 6.1 percent, continuing to place the Philippines among the region’s fastest growing economies.

“However, we expect weaker global growth and escalating

New body to take over Davao international airport

By Samuel P. Medenilla @sam_medenilla

A

NEW regulating body is set to take over the management of the international airport in Davao.

President Duterte finally signed Republic Act (RA) 11457 or the “Charter of the Davao International Airport Authority” last month.

RA 11457 created Davao International Airport Authority (DIAA), which will become an attached agency of the Department of Transportation (DOTr) to take over the operation and maintenance of the Francisco Bangoy International Airport (FBIA) and other existing and to-be-established airports in Davao.

The DIAA is also tasked to

Exports. . .

Continued from A1

contributed the largest share or 36 percent to the total import value.

However, this recorded a contraction of 11.7 percent, to $3.45 billion in July 2019 from $3.9 billion in July 2018.

He said the last time export performance really posted growth was nearly 10 years ago, right after the global recovery from the 20082009 financial crisis.

Currently, purely Philippinemade products are handmade and are not products with economies of scale. Ang said this needs to change to boost export performance.

“This is the problem. We need to be creative,” Ang said.

Neda optimistic

MEANWHILE, the National Economic and Development Authority (Neda) remained optimistic of the growth of export earnings in July, saying the performance is a testament to the sector’s resilience amid the trade tensions and other global headwinds.

Socioeconomic Planning Secretary Ernesto M. Pernia said the long-standing trade tensions between the United States and China has negatively affected many countries in the region, not just the Philippines.

Manufactur ing purchasing manager indexes for powerhouses like Japan, South Korea, Taiwan sustained declines in July, he noted.

IT-BPM. . .

promote the use of airports in the Davao area for international trade and tourism, as well as upgrade the facilities of the FBIA. It will be governed by a board of directors, composed of a chairman, vice chairman and 13 members.

Serving as the ex-officio chairman and vice chairman of the DIAA will be the secretary of the Department of Transportation (DOTr) and the general manager of the authority, respectively.

The other remaining ex-officio members of the board may come from the executives of the Civil Aviation Authority of the Philippines (Caap), Department of Finance (DOF), Department of Justice (DOJ), Department of Health (DOH), Department of Tourism (DOT).

“The country’s manufacturing sector is expected to sustain its growth despite the overall decline in global manufacturing. We are optimistic as we see a reduction of global oil prices, the recent cuts in electricity rates and the lower import costs due to the appreciation of the peso,” said Pernia.

He added that sustaining this optimism may find relevance in the government’s goal of attracting foreign investments in the country.

The country’s resiliency against its competitors in the region may attract locators seeking alternatives to China, where goods are subject to increasing US tariffs.

Also, the timely conclusion of the negotiations of the Philippine-South Korea Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP) would further expand trade and investment opportunities for the Philippines.

Pernia also underscored the importance of addressing issues in the Philippine agriculture sector.

“As the country continues to pursue programs that will pave the way for the resurgence of the manufacturing sector, increasing the competitiveness of agricultural producers, particularly rice farmers, should continue to be prioritized,” said Pernia.

He added that long-term measures, especially the proper implementation and distribution of the Rice Competitiveness Enhancement Fund (RCEF), would have a huge impact on sustaining and expanding the rice sector.

Continued from A1

For firms registered with the Philippine Economic Zone Authority (Peza), the Citira bill capped the period for enjoying income tax holiday (ITH) at three years; and additional incentives at five years.

Under the existing setup, economic zone firms are allowed to enjoy ITH for up to six years for pioneer activities and four years for nonpioneer activi-

The last ex-officio member of the board from the government will be a nonelective official to be appointed by the mayor of Davao City.

The board will also include seven members from the private sector.

Transition process FOR the first 10 years of operation of the DIAA, it will be exempted from realty taxes imposed by the local government or any political subdivisions, agencies and instrumentalities.

Except for the pieces of equipment for radio aids to air navigation, airways communication, the approach control office, and the area control center, which will remain under Caap management, the control of the entire FBIA will be transferred to DIAA.

FDI. . .

Continued from A1

Also, nonresidents’ net investments in equity capital fell to $25 million from last year’s $184 million.

These equity capital placements during the period came mostly from Singapore, the United States, Japan, the Netherlands and China and were channeled mainly to real estate, manufacturing, financial and insurance, electricity, gas, steam and air-conditioning supply, and transportation and storage industries.

The BSP also said reinvestment of earnings expanded by 8.3 percent to $89 million from $82 million in the same month last year.

Meralco. . .

Continued from A8

prices predetermined by Meralco based on recently ERC-approved contracts and disclosed only upon opening of bids.

The Best Bids will now undergo postqualification. The TPBAC is expected to issue the respective Notices of Award on September 10, to be followed by the signing of the PSAs with Meralco within the week. This particular PSA will take effect on December 26, 2019.

Meralco declared that the successful CSP would ultimately result in least cost to consumers. Meralco clarified that the all-in rate already includes line rental and VAT, and the cost of replacement power for all plant outages.

The generator companies will also be liable to pay a fine if they are unable to deliver power; the fine will be used to reduce the generation cost to the consumers. The three firms bested offers from SMC Consolidated Power Corp.

(SCPC) and Masinloc Power Partners Co. Ltd.,

ties. Upon the expiry of their ITH, they will perpetually pay 5-percent tax on GIE, be exempted from all local and national taxes, enjoy duty-free importation of raw materials, capital gear and spare parts, among others.

Although the Citira bill will reduce CIT to make the Philippines more competitive, the rate of this tax is still higher compared to the GIE. Under the Citira bill, the CIT rate of 30 percent will be reduced to 28 percent in 2021; to

Also to be transferred to DIAA are the liabilities and debts of the previous management of FBIA. The current general manager of FBIA will continue the performance of his duties until the appointment of the general manager of DIAA. Other officials and employees of FBIA who will be displaced because of the transition will be retired.

If they are not qualified for retirement, they will be paid gratuities equivalent to one-month salary for every year of continuous satisfactory service on the basis of the highest salary they received.

RA 11457, signed on August 30, 2019, will take effect 15 days after publication in the Official Gazette or in a newspaper of general circulation.

Earlier, ING Bank Manila economist Nicholas Antonio Mapa said recent FDI flows have not been as “substantial,” as investors await the fate of the proposed Corporate Income Tax and Incentive Rationalization Act (Citira).

Just this Monday, the House of Representatives approved Citira on second reading.

Through viva voce voting, lawmakers greenlighted House Bill 4157, which amends sections of Republic Act 8424 or the National Internal Revenue Code of 1997.

The bill will be approved on third and final reading on Thursday. In the first six months of the year, the BSP said FDI to the Philippines recorded net inflows of $3.6 billion, 38.8 percent lower than the $5.8 billion recorded in the first semester of last year. which are both SMC-affiliated.

Meralco utility economics head Lawrence Fernandez said the CSP was for only 1,200MW as against the 1,630MW offered capacity of the bidders that attended. “So, not all offers could be accepted. The three bidders with the best bids submitted the lowest cost offers,” he explained.

The bidding was witnessed by representatives from the Department of Energy (DOE) and was attended by several generation companies. According the Phinma Energy President Eric Francia, “I just want to express our appreciation to the TPBAC and TWG for a well run process. It was a good experience and hopefully we will have more pro-consumer bids moving forward.”

The Meralco TPBAC is chaired by Atty.

Ferdinand Domingo, who was selected as representative of consumers, together with Atty, Adrian Cristobal, another consumer representative and a former undersecretary of the Department of Trade and Industry. The process for the selection of the consumer representatives was approved by the DOE. Lenie Lectura

26 percent in 2023; to 24 percent in 2025; to 22 percent in 2027; and to 20 percent in 2029 as part of government efforts to attract more investments to the Philippines. Essentially, if locators give up their tax perks and shift to paying CIT, they will pay 28 percent right away in 2021.

As such, the Ibpap is asking for a longer transition of 10 years for IT-BPM firms so they can switch to paying CIT at a time it is already at 20 percent in 2029.

As a compromise, the indus-

try is willing to increase the GIE rate to 7 percent, from 5 percent, which should add significant amounts to government collection. Paying a higher GIE rate is less costly for IT-BPM firms, as this will result only in 40 percent additional cost for them, Untal said.

“The proposal that we have on the table is a softer landing for the industry. We move from a 5 percent GIE regime to a 7 percent GIE regime. Overnight, you pay 40 percent more,” he added.

US-China trade tensions to prevent a stronger pickup in 2020 and 2021, and for growth to remain around 6.3 percent,” Fitch said.

Fitch also said the country’s current account is expected to remain in a deficit at about 2.4 percent of its gross domestic product (GDP) in 2019, driven by weak export performance.

Exports contracted by about 0.5 percent in the first half of 2019 versus the 1.1-percent growth during the same period last year.

“We expect imports to rise somewhat in the second half of 2019 with the passing of the budget,” Fitch said, adding that it expects subdued export performance and generally strong import growth in

Budget. . .

Continued from A1

According to Brosas, a discrepancy of nearly P2 billion cannot be dismissed as a clerical error because the inconsistencies of the data provided in the 2020 National Expenditure Program (NEP) are also reflected in the GAB. “This P1.79-billion ‘hanging pork’ could’ve been enough to build public hospitals, schools and decent housing for the poor. But the DBM left it without any item under DPWH at the pleasure of the agency,” she added.

Brosas said the billion-peso discrepancy in the DPWH allocation might be one of the reasons the GAB on the proposed P4.1-trillion budget for 2020 was withdrawn from the House plenary last week. She said there could be more discrepancies in other agencies.

‘Presidential pork’

MOREOVER, the Makabayan bloc also questioned the “biggest presidential pork in history,” which “some reports say amounts to P1.7 trillion, or more than a quarter of the P4.1 trillion budget.”

The bloc said this “pork”is under the Special Purpose Funds (SPF) which did not have specific details but will be directly controlled by the President and his alter egos under the 2020 budget.

“It is incumbent upon Congress to scrutinize the national budget especially the SPF because it is classified as a humongous lump sum, and therefore pork barrel,” the bloc said.

“President Duterte just said that he would veto any pork in the national budget. He should set an example and veto this as well,” it added.

The Makabayan Bloc is composed of Bayan Muna Reps. Carlos Isagani Zarate, Ferdinand Gaite, Eufemia Cullamat, ACT Teachers Partylist Rep. France Castro, Brosas, and Kabataan Party-list Rep. Sarah Elago.

‘Faithful replica’

HOUSE Committee on Appropriations Chairman Isidro Ungab said the distributed copies of the 2020 GAB are a “faithful” replica of the 2020 NEP submitted by the Palace.

Ungab also said no changes or amendments

Security. . .

Continued from A8

Unisys Director for Security Services for Asia Pacific Ashwin Pal said the report unravels the risks that need to be remedied in order to avoid the loss of data and the loss of business.

“Consumers hold the business or government agency responsible for not protecting their data, and many Filipinos are taking action.

Among Filipinos who report they have suffered a data breach last year, almost a quarter or 24 percent say they took legal action, one in five or 21 percent stopped dealing with the organization such as closed their account, and 18 percent exposed the issue on social media.

This results in customer loss, reputation damage, legal disputes and inhibits take-up of online or digital services,” he said.

Emmanuel Rey R. Caintic, Department of Information and Communications Technology (DICT) assistant secretary for Digital Philippines, added that with data more relevant than ever, the government hopes to be at the forefront of consumer data protection through Critical Infrastructure Protection, National Computer Emergency Re-

2020 and 2021 to keep the current account in a deficit of between 2.5 and 2.6 percent of GDP. For the entire Asia Pacific region, Fitch said economic activity continues to weaken on softening global demand and uncertainty associated with the escalation of the US-China “trade war.”

“The slowdown has been especially pronounced in economies exposed to the electronics sector, such as Singapore and Korea, on account of the global tech cycle and the trade dispute,” Fitch said.

“Growth is showing more resilience in economies with strong domestic demand and room for monetary and fiscal stimulus,” it added.

have been made in the NEP. The 2020 national budget of P4.1 trillion, which is cash-based, is 11.8 percent more than the 2019 budget and will constitute 19.4 percent of the country’s GDP. Social services will receive the largest chunk of the budget with P1.5 trillion or a 37.2-percent share, followed by economic services, which will receive P1.18 trillion or a 28.9-percent share.

General public services will receive P734.5 billion; debt burden, P451 billion; and defense, P195.6 billion.

The government targets to maintain a manageable deficit of 3.2 percent of GDP for 2020.

“This is a budget of expenditures as mentioned by the Constitution which in our current budgetary practice is composed of the Programmed New Appropriations of P2.85 trillion and Automatic Appropriations of P1.25 trillion,” Ungab said.

“The new general appropriations sought to be authorized under House Bill 4228 is P3.066 trillion, consisting of P2.850 trillion in programmed new appropriations and P216.3 billion in unprogrammed appropriations, which can be spent only if and when actual revenue collections for the year exceed the targeted revenue, as per Budget of Expenditures and Sources of Financing [BESF] or when new foreign loans or grants are received,” he added.

According to Ungab, the P4.1-trillion proposed budget “reflects the government’s resolve” to allocate the annual available resources only to those programs and projects which are better planned and can be executed and completed within the budget year by agencies based on their implementation capacities.

“The Expenditure Program is therefore consistent with the fiscal program comprised of revenue collection target of P3.536 trillion, a disbursement ceiling of P4.214 trillion and net financing sources to cover the corresponding P677.6 billion budget deficit,” he added.

By sector, Ungab said the expenditure program for 2020 continues to give priority to social and economic services in support of programs that seek to alleviate poverty, build up human capital, and develop infrastructure to sustain the country’s economic growth. sponse Team, Protection of Government Information Systems and Child Online Protection.

“In addition, we are set to roll out the cyber-security management system to more government agencies by 2021. Complementing this initiative, we are engaging schools to educate and train the youth on the latest trends and issues on cyber security,” he said.

The Unisys Security Index measures concerns of consumers on issues related to national, personal, financial and Internet security. The study polled 1,079 adults in the Philippines from February 27 to March 22. The 13 countries surveyed are Australia, Belgium, Brazil, Chile, Colombia, Germany, Malaysia, Mexico, Netherlands, New Zealand, Philippines, the UK and the US. “Reflecting their high level of concern about data security, Filipinos are very selective about how and when they support their personal information being collected or shared. This appears to be driven by a combination of trust in the organization involved, the purpose given for how the data will be used and the benefit to the individual. To gain public support, organizations must show they are addressing all three criteria,” Unisys Asia Pacific Vice President Lysandra Schmutter said.

The Nation BusinessMirror

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Editor: Vittorio V. Vitug • Wednesday, September 11, 2019 A3

Bicol rebel fighter tapped to head Army’s CL anti-insurgency drive carry out the military’s holistic approach in ending the communist-inspired insurgency at the intersection of left-hand and right-hand approaches, but with more lethal effect.

COL. Andrew D. Costelo (left) receives the symbolic flag of the 703rd Infantry “Agila” Brigade from Maj. Gen. Lenard T. Agustin, commander of the Army’s Seventh Infantry Division. Costelo assumed the leadership of the 703rd Brigade from Brig. Gen. Rowen S. Tolentino.

By Rene Acosta

@reneacostaBM

T

HE counterinsurgency campaign in Central Luzon has taken a new shift with the assumption of a new regional military commander who has vowed to adopt a new approach in the government’s drive to finally end the communist-inspired rebellion being waged by the New People’s Army (NPA).

“We will tirelessly offer and extend the hand of peace, but we will also be fearless and relentless in running after those who will choose to stick to terror in furthering their beliefs,” said Col. Andrew D. Costelo as he assumed the leadership of the Army’s 703rd Infantry “Agila” Brigade based in Bongabon, Nueva Ecija.

“This communist madness propagated by Jose Ma. Sison and his local group of old, tired and weary communist apparatchik must be stopped. As this ideology gasps for breath, it’s time to send this demagoguery to its death bed,” Costelo added, whose operational area covers the whole of Region 3.

Costelo, a Cebuano and a member of the Philippine Military Academy Class of 1990, was a former chief of staff of the Ninth Infantry Division (Ninth ID) based in Bicol region before he was tapped to take the helm of the 703rd Infantry Brigade, succeeding Brig. Gen. Rowen S. Tolentino.

With the Ninth ID, Costelo lent his expertise in the crafting of “Trangkilo,” the division’s five-year campaign plan against the rebels beginning in 2017 that degraded the capability of the Bicol Regional Party Committee of the NPA, including the declaration of Sorsogon as a “conflict-manageable and ready for development” province.

A veteran intelligence officer having served with the Intelligence Service of the Armed Forces of the Philippines (ISAFP), he also oversaw numerous combat and intelligence-driven operations, resulting in the neutralization of top-level officials and members of the communist movement in Bicol region.

Costelo had also served as the commander of the Second Infantry Battalion and the 22nd IB in Bicol in his junior years.

In assuming the reign of the 703rd Brigade, Costelo said he will

BI deports South Korean fugitive facing illegal online gambling charges in Seoul

T

HE Bureau of Immigration (BI) has deported a South Korean fugitive wanted by authorities in Seoul for allegedly operating an illegal gambling web site.

Immigration Port Operations chief Grifton Medina identified the Korean national as 35-year-old Jung Hyeongwook, who left the country last September 3 aboard a Philippine Airlines flight to Pusan.

He said Jung was deported a few days after he surrendered to the Korean Embassy in Manila, which earlier canceled his passport.

The passenger was reportedly issued a temporary travel document by the embassy to facilitate his departure and was later arrested upon his arrival in South Korea.

“I’ve recommended to Commissioner [Jaime] Morente that Jung be included in our blacklist to prevent him from reentering the country,” Medina said. It was learned that Jung, who is being prosecuted in Seoul for violating his country’s National Sports Promotion Act, was subject of a red notice issued by the Interpol last July 16.

Citing information obtained from the Korean police, the BI-Interpol said that between October 2015 and March 2016, Jung allegedly operated an illegal gambling web site called pony–ber1.com which provided sports betting facility to members. Jung and his cohorts allegedly collected betting money from the members and pocketed nearly $6 million from the online gambling racket. Recto Mercene

PET: Sub judice rule stays on VP poll protest case

T

HE Supreme Court, sitting as the Presidential Electoral Tribunal (PET), has already received the report from Associate Justice Alfredo Benjamin Caguioa on the result of the revision and recount of ballots in three pilot provinces covered by the election protest filed by former Sen. Ferdinand “Bongbong” Marcos Jr. against Vice President Ma. Leonor “Leni” Robredo.

This was confirmed by SC Spokesman Brian Keith Hosaka at a news briefing following the Court’s regular en banc session on Tuesday Hosaka said the PET has yet to take any action on the said report, thus, it reminded the parties in the election protest to observe the sub judice rule pending PET’s deliberation on the report.

“The Tribunal would like to again remind the parties that they are still subject to sub judice rule pursuant to its resolution dated February 13, 2018, and March 20, 2018. Hence, they are strictly ordered to refrain from making any public statements to the media with regard to the case,” Hosaka said. JoelR.SanJuan

“We will seek peace and we will encourage rebels to join us in this undertaking, but for those who wanted to sow terror, we will be unrelenting in our campaign against them,” he said, adding he would further intensify

the brigade’s partnerships with Central Luzon residents, local officials and nongovernment organizations.

“We will be servant warriors and thinking warriors,” Costelo said.

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44

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. YUNNAN LIU / Chinese

Chinese Customer Service Representative

45

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. ZIYAN CHEN / Chinese

Chinese Customer Service Representative

46

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. RU CHEN / Chinese

Chinese Customer Service Representative

47

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. JIANYONG WANG / Chinese

Chinese Customer Service Representative

48

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. CHENCHEN YANG / Chinese

Chinese Customer Service Representative

49

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. JIANREN NI / Chinese

Chinese Customer Service Representative

50

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. DAN WANG / Chinese

Chinese Customer Service Representative

51

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. BING HU / Chinese

Chinese Customer Service Representative

52

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. XIAOLONG DUAN / Chinese

Chinese Customer Service Representative

53

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. ZHONGQIN YANG / Chinese

Chinese Customer Service Representative

54

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. SHUAI YANG / Chinese

Chinese Customer Service Representative

55

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. PENG CHEN / Chinese

Chinese Customer Service Representative

56

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. HONGRU QU / Chinese

Chinese Customer Service Representative

57

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. HONGXIANG ZHEN / Chinese

Chinese Customer Service Representative

58

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. PANYI ZHANG / Chinese

Chinese Customer Service Representative

59

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. CHUNYU LI / Chinese

Chinese Customer Service Representative

60

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. YU ZHANG / Chinese

Chinese Customer Service Representative

61

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. HAO YU / Chinese

Chinese Customer Service Representative

62

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. WENBIN TANG / Chinese

Chinese Customer Service Representative

63

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. BAO ZHANG/ Chinese

Chinese Customer Service Representative

September 11, 2019

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP) Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s.

Name and Address of Company/Employer

Name and Citizenship of Foreign National

1

YIKING PLASTIC PRODUCTION INC Lima Technology Center, Lipa City, Batangas

MR. HONGJUN WANG / Chinese

2

PEARL ENERGY PHILIPPINES OPERATING, INC. Cagsiay I, Mauban, Quezon

MR. JACOBUS ADRIAAN SCHALK ENGELBRECHT / South African

CHANGHONG TECHNOLOGY PHL CORPORATION FPIP-SEZ, Tanauan City, Batangas

MR. YAKUN DING / Chinese

3

Position and Brief Description of Functions Printing Supervisor

Operations Specialist

General Manager

4

CROWN WORLDWIDE MOVERS, INC. MR. PETER BURTON / Laguna Technopark, Biñan City, British Laguna

5

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHIDONG GUO / Chinese

6

KONGNGAI METAL TOOLING & STAMPING PHILIPPINES CORP. LTC, Brgy. Santiago, Malvar, Batangas

MR. YUHUI XIE / Chinese

7

KONGNGAI METAL TOOLING & STAMPING PHILIPPINES CORP. LTC, Brgy. Santiago, Malvar, Batangas

8

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. XIAOXUE PENG / Chinese

Chinese Customer Service Representative

9

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. QI CHEN / Chinese

Chinese Customer Service Representative

10

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. HONGZHEN QI / Chinese

Chinese Customer Service Representative

11

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. SHASHA HE / Chinese

Chinese Customer Service Representative

12

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. XUN LI / Chinese

Chinese Customer Service Representative

13

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. CHUNSHENG YANG / Chinese

Chinese Customer Service Representative

14

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. QIWU TANG / Chinese

Chinese Customer Service Representative

15

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. XIAOKE ZHANG / Chinese

Chinese Customer Service Representative

16

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. GUANGHUI YAO / Chinese

Chinese Customer Service Representative

17

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. JIANG YU / Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. JINGWEI HOU / Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. LIANGPING HU / Chinese

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. GUOPING JIANG / Chinese

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. LONGLONG MENG / Chinese

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. GUAN XU / Chinese

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. KEFENG XIONG / Chinese

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. PANPAN SUN / Chinese

18

19

20

21

22

23

24

25

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. ZHENG WEI / Chinese

MR. RUI HE / Chinese

RMS Manager, Sales and Account Management Chinese Customer Service Representative

Tooling Manager

Quality Manager

Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. SHILIN ZHOU / Chinese

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. QIKAI XU / Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. ZHENYUAN DAI / Chinese

Chinese Customer Service Representative

29

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. HONGDA GUO / Chinese

Chinese Customer Service Representative

30

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. NINGNING ZHANG / Chinese

Chinese Customer Service Representative

31

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MS. ZIMIN WU / Chinese

Chinese Customer Service Representative

32

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. LUYAO WANG / Chinese

Chinese Customer Service Representative

33

MOA CLOUDZONE CORP. Tejeros & Binakayan Bldg., Brgy.

Binakayan, Kawit, Cavite

MR. DAYOU LIN / Chinese

Chinese Customer Service Representative

26

27

28

Chinese Customer Service Representative

Wednesday, September 11, 2019 A4

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at the DOLE Regional Office within 30 days from the date of publication.

Please inform the DOLE Regional Office if you have an information of any criminal offense committed by the foreign nationals.

HENRY JOHN S. JALBUENA Regional Director

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph AEP20191007207

A6 Wednesday, September 11, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Hog sector needs public’s cooperation

T

HREE weeks after the BusinessMirror broke the story that Taiwan started enforcing stricter checks on the carry-on luggage of all arriving Filipinos (See, “Amid suspected African Swine Fever outbreak in PHL, Taiwan to check all carry-on bags of Filipino travelers, in the BusinessMirror, August 18, 2019), the Department of Agriculture announced on Monday that African swine fever is now in the Philippines. The DA could not say for certain how the ASF virus got here, killing thousands of hogs in Rizal and Bulacan.

What is clear at this juncture is the need for vigilance so that ASF will not spread to other parts of the country.

ASF is a dreaded disease because it can decimate hog populations and cause huge economic losses. Even the government described it as a “major economic disease” before it released the results of confirmatory tests from the United Kingdom. The experience of Vietnam and China shows how ASF can wreak havoc on an industry that significantly contributes to their gross domestic product. Chinese and Vietnamese raisers incurred losses amounting to millions of dollars and their governments were forced to import pork.

What compounds the problem for countries that are now grappling with ASF is the absence of approved vaccine against the highly contagious hog virus. Transmission is quick, and the Office International des Epizooties revealed that the virus can survive in fomites, or nonliving objects. Shoes, clothes, vehicles, knives, and even pasalubongs like canned goods from abroad can transmit ASF due to the high environmental resistance of the virus.

The ability of the virus to survive even in nonliving objects is the primary reason behind the government’s decision to implement stricter measures on the entry of pork products from other countries. Unfortunately, despite the quarantine measures implemented by the government, ASF managed to sneak into the Philippines and kill thousands of pigs in Luzon. And it appears that despite the government’s efforts to contain the disease, the crisis is far from over (See, “DA expands surveillance to areas with sick hogs,” in the BusinessMirror, September 10, 2019).

Stamping out ASF requires the strict adherence of industry stakeholders to quarantine measures prescribed by the government (See, “DA: Hogs slipped past areas currently under quarantine,” in the BusinessMirror, August 23, 2019). Raisers must also inform the government immediately if they notice unusual pig mortality in their farms. They must not hide this information just because they do not want to temporarily halt pig production.

The public should also refrain from spreading false information about pork products, as this will only hurt the P260-billion hog industry. ASF is deadly to hogs, but it does not affect humans, so local pork is safe to eat.

Returning Filipino tourists and overseas Filipino workers must also do their part by heeding the appeal of authorities to stop bringing in canned meat products from other countries, especially from areas where ASF outbreaks have been confirmed.

The expansion of global trade in recent years has increased the threat of transboundary animal diseases to the local livestock and poultry sector.

Animal diseases that were once unheard of are now finding their way into local farms. This makes it imperative for everyone, not just the government and the hog sector, to help prevent these diseases from harming the domestic animal population. Aside from killing domestic animals, outbreaks of animal diseases also threaten food security and could adversely affect poverty incidence in the country.

Since 2005

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

Online Editor Creative Director Chief Photographer Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

Teddy Locsin Jr.

FREE FIRE Continued from A1

A

LLOW me to begin by thanking Ambassador Moragas and Commander Tánago for inviting us on board the Méndez Núñez and for hosting this special luncheon. I especially thank Commander Tánago and his crew for the remarkable welcoming ceremony as I boarded the ship. One of my most vivid memories is boarding a small military boat and being welcomed with the words, “The Republic of the Philippines.” Military ceremonies never fail to thrill; the symbolisms they carry show a distinct world where nothing is personal, everything is duty and everyone is known only for his function.

On behalf of the Philippine officials present here today, I welcome the officers and crew of the Méndez Núñez to the Philippines.

I am pleased to hear that the Méndez Núñez will make its way to Baler, Aurora, following its port call in Manila.

The ship’s visit to Baler symbolizes the historic friendship between the Philippines and Spain, which

we honor every 30th of June. On that day, we commemorate the act of benevolence 120 years ago when President Emilio Aguinaldo decreed that the 35 Spanish survivors of the Siege of Baler be treated as friends, not as prisoners. Twenty days following the decree, second Lieutenant Martin Cerezo and his men left Manila aboard the vessel Alicante and reached Barcelona on

Lourdes M. Fernandez

Aurora C. Ignacio

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan

Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

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September 1, 1899. Even the name strikes a chord of fondness for me; my favorite cousin went to school in Alicante.

Just last June 30, Baler warmly welcomed some of the soldiers’ descendants and witnessed the descendants’ reenactment of their forefathers’ safe exit from Baler Church—the safe haven of 11 months of their persons and of the honor of Spain. The 400-year legacy lives on through the descendants of these soldiers.

Today reminds us that Spanish ships brought us the Faith that led to the creation—and which defines the enduring character of the Filipino nation. Were it not for Spain’s coming, we’d be part of another Southeast Asian country or countries; indistinguishable from and just a geographic part of them. There would be no Islas Filipinas—named after history’s greatest and first modern monarch. I cannot imagine a world impoverished by the absence of the biggest Catholic nation in Asia; not least because I would not be here now nor would you.

However significant and marked June 1899 is in our shared history, this is merely a pause in a relationship of four centuries.

Recognizing the best companies through the Balikat ng Bayan Awards

T. Anthony C. Cabangon

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

‘I can’t imagine a world impoverished by the absence of the biggest Catholic nation in Asia’

All About Social Security

S

UCCESSFUL companies, big or small, have similar characteristics. Some of which are good management, efficient communication and a clear vision. For sustainability, great companies are compliant with mandatory laws. These companies attract and maintain good employees.

Companies with exceptional accomplishments are recognized by various entities to inspire, motivate and drive industries. Some of the government offices and reputable organizations that recognize exemplary achievements of companies are: Bangko Sentral ng Pilipinas, Development Bank of the Philippines, Pag-IBIG Fund, Employers Confederation of the Philippines (Ecop) and People Management Association of the Philippines (PMAP).

Social Security System also stages its annual recognition of top partners through the Balikat ng Bayan (BnB) Awards. The award name represents the character of SSS and its

partners as a pair of helping arms or shoulders to lean on in times of need. It acknowledges the value of SSS’s partnerships with other sectors in pursuit of its mandate to provide universal, equitable and viable social security protection. Filipino sculptor Dr. Antonino Raymundo designed the BnB award.

Since 1995, BnB honors employers, organizations, individuals that significantly contributed to the pursuit of the SSS’s mandate.

Awardees are recognized for their compliance to the provisions of the SS Law in terms of coverage, collection and giving out benefits, accuracy and timeliness of their

submission of reports to SSS, as well as support of and participation in SSS programs.

Employer winners are classified under two major categories: Large Account Employers with a minimum of 500 employees, and SmallMedium account employers with less than 500 employees. SSS branches nationwide evaluate and nominate deserving employers within their areas of jurisdiction.

SSS partner banks are also honored in the BnB. Banks are classified as either thrift, rural or commercial banks. A top collecting bank for SSS contributions or top paying bank for SSS benefits are recognized. An award for best participating financial institution is also given for banks successfully giving out SSS business or housing loans.

Finally, a third set of BnB Awards, established in 2011, are given to media partners of SSS for their excellence in journalism. Winners are categorized according to TV, radio and print media.

This year’s Top Employers are HGST Philippines Corp., Gingoog City Colleges Inc. and Ryomo Philippines Information Corp.

Best collection partners are Bank One Savings Corp. and Rural Bank

I am grateful to the late Sen. Edgardo J. Angara—my mentor, my master in the practice of law, my late, deeply lamented friend—for his authorship of Republic Act 9187 declaring June 30 of every year as Philippine-Spanish Friendship Day, allowing us to always remember and honor this amistad duradera, meaning lasting friendship. And that’s another resonant name: Amistad, reminding us of, yet, another enduring heritage: that of the victor of the Spanish-American war which beat us badly first, and then gave us independence.

Amistad duradera has evolved into what it is today: a thriving, multifaceted and forward-looking relationship that must look back regularly to refresh itself. Our gathering today and the plans we have ahead are testament to this lasting friendship.

May we continue to work together toward a future of deepened, mutually enriching cooperation, underpinned by shared commitment to achieving prosperity for our peoples.

To the lasting bonds between the peoples of the Philippines and Spain!

Viva la Amistad Duradera! Mabuhay ang Pilipinas at Espanya!

of Lanuza. On the other hand, best paying partners are the Philippine National Bank, First Consolidated Bank Inc. and EastWest Rural Bank Inc. This year’s best-accredited partner agents are SEDP-Simbag sa Pag-Asenso Inc., Department of Social Welfare and Development, and the Provincial Government of Pangasinan.

Best media partners are Ana Marie T. Pamintuan of the Philippine Star as most supportive editor in chief, Alvin P. Elchico of ABS-CBN as most supportive TV anchor, and Eleazar “Ely” B. Saludar of DZXL 558 or RMN as most supportive radio anchor.

Tomorrow is the formal awarding ceremony of BnB. Finance Secretary and SSS ex-officio Chairman Carlos Dominguez III will lead the handover of awards.

For SSS, BnB is an important event to give distinction to its valued partners who help secure social protection for all Filipino workers here and abroad, regardless of the nature of work that they do. For the layman, this award serves as a guide in choosing where to work. After all, every working person wants to be with the best.

Opinion BusinessMirror

www.businessmirror.com.ph

Are we now a labor-receiving country?

Insurtech innovations of Philippine insurers Atty. Dennis B. Funa

INSURANCE FORUM Susan V. Ople

SCRIBBLES

I

T is a well-known fact that we are a major source of expatriate workers in the world. Is the Philippines now a major destination country for foreign workers? It appears so.

The labor department is now establishing a database for foreign nationals who are employed in the Philippines. Last year, the Department of Labor and Employment (DOLE) issued alien employment permits to 54,241 foreign workers.

That number surged to 51,000 foreigners for only the first semester of this year. How many more foreign workers are there who are here on tourist visas but serve as clandestine employees?

A friend of mine told me that some of these Chinese workers pay under the table for the renewal of their tourist visas, and as protection money. The uncertainty of their immigration and work status renders these mostly Chinese workers highly vulnerable and under the control of their “employers,” also of Chinese descent and operating in more than 50 shades of gray, legally speaking.

During the Philippine National Tripartite Preparatory Workshop for the 12th Asean Forum on Migrant Labor held recently at Hotel Jen in Manila, the participants discussed the future of work and labor migration. Director Dominique Tutay of the Bureau of Local Employment briefed us about the labor department’s initiatives in addressing concerns arising from the entry of foreign workers.

Director Tutay said that DOLE is now in the process of increasing the number of labor inspectors specifically for foreign nationals. Companies employing foreign workers are required to obtain the necessary work permits at the cost of P9,000 per alien employment permit (AEP), inclusive of publication and application fees. For permits that will go beyond one year validity, the company would need to pay an additional P4,000 per year.

The challenge lies in communicating this legalization process in various languages and using the media to reach out to as many foreign workers as possible. This is where social-media sites and local Chinese publications can help in partnership with DOLE. If the reality has become that the Philippines is now a labor-destination country, then the government and even the private sector must come up with a social protection and legal infrastructure to ensure that these foreign workers are not prone to exploitation and modern slavery.

I am sure that without proper papers, a worker would be forced to work long hours for a dismal salary, far from that promised him while in China. Some of these POGO workers may actually be victims of forced labor trafficking.

A bilateral labor agreement between China and the Philippines on the entry of their workers may be far from feasible. China deems all forms of gambling as illegal, yet more than half of the alien permits issued this year were for POGO workers. The irony is that when you visit any of the five-star casinos along the Entertainment City zone in Pasay City, the big-time junketeers are mainly from China. These hotels, transportation companies, and other satellite services would require Mandarin-speaking employees. Of course, we could emulate Vietnam and simply ban all these offshore online gaming establishments and prevent the entry of Chinese online gaming workers.

Wednesday, September 11, 2019 A7

Director Tutay said that DOLE is now in the process of increasing the number of labor inspectors specifically for foreign nationals.

Companies employing foreign workers are required to obtain the necessary work permits at the cost of P9,000 per alien employment permit, inclusive of publication and application fees.

For permits that will go beyond one year validity, the company would need to pay an additional P4,000 per year.

It seems that the present administration has decided on a different track. Based on news reports, the Department of Finance (DOF) said that POGOs must already withhold the monthly 25-percent personal income tax due from their employees—including those without tax identification numbers (TINs)— then remit the taxes to the BIR. An interagency joint memorandum circular also mandated all incoming foreign workers to first secure visas, working permits and TINs to ensure that they would pay the right amount of taxes.

The labor department must be given sufficient support and leeway in regulating and managing the inflow of foreign workers. First and foremost, our government must ensure that these foreign workers are not taking away much-needed jobs from unemployed Filipinos.

For those whose applications have been legally processed, these foreign workers should also undergo mandatory cultural and labor orientation seminars, as well as mandatory physical examinations. In the same vein that we seek utmost protection for our OFWs, let us also ensure that foreign workers in our midst are treated humanely, fairly, and sans discrimination or harassment.

That we are now a labor-receiving country seems inevitable, given our proximity to wealthier neighbors combined with our huge potential for economic growth. Our collective desire for economic prosperity, however, must not be at the expense of traditional family and societal values that we as a nation hold dear. The Philippines cannot be a playground for wealthy Chinese mafias that feast on the carcasses of the weaker few. It is but right for our government to determine the kind of human resource management system that would be fair to all, including our own domestic work force, to prevent the trafficking and exploitation of foreign workers.

I am happy that the labor department has been declared as the lead agency in this regard. Enough of these horror stories about corruption in the renewal of tourist visas and in obtaining fake TINs and alien employment permits! Let lessons learned from our 40 years of being a labor-sending country be a springboard for policy discussion on what kind of legal and protective mechanisms should be made available to foreigners, regardless of nationality, legally seeking work in the Philippines.

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.

I

NSURTECH (insurance technology) innovation is happening almost imperceptibly in the Philippines, and in numerous steps by different companies. Here below are some of these insurtech innovations.

East West Ageas Life ON May 28, 2019, East West Ageas Life, under its brand name TROO, launched its online Customer Portal under brand name “GoTroo.” In this portal, the client can view and download a copy of his insurance policy, including the signed application form and sales illustration. For newly released policies, a free look period notification will remind the client of the free look feature. A summary of the policy’s features such as the coverage, benefits, beneficiaries, payment information and investment history may also be viewed. Personal and policy related information may also be updated in the portal. Claims may also be filed through this portal by uploading claims documents.

Reinstatement of policies may also be done online.

Manulife

MANULIFE will launch in 2019

its “iNotice,” which is an electronic service facility through which customers can receive their billing statements and other notices through their e-mail. This innovation will afford customers with faster, more secure communications system. The billing notices sent to the customers 20 days before due date are passwordprotected to secure customer information. Under this innovation, notices will be sent electronically and paperless unless the client requests for the paper option.

Philam Life (AIA Group)

IN 2014, Philam Life introduced the very first interactive Point of Sales. iPoS is an iPad-based application used by the company’s financial advisors to facilitate smooth transactions with clients. The sales innovation will allow the agents to perform needs analysis, underwrite

contracts, and complete transactions, and facilitate payments electronically with ease and convenience.

In its Australian office, the company is already using artificial intelligence to run its operations.

Singapore Life

SINGAPORE Life will be entering the Philippine market soon. Singapore Life (Sing Life) is not your typical insurance company. It is a technology-based, online insurance company start-up. It aims to pursue the insurance business 100 percent digitally (or digital-only) in direct competition with the tradition insurers. There are others with the same business model such as CXA Asia.

Singapore Life was founded in 2014

by Walter de Oude, a former banker from HSBC. In July 2019, Sumitomo Life Insurance of Japan acquired 25 percent of Sing Life for $90 million.

Earlier, strategic investors include Aberdeen Standard Investments for $13 million and US insurer Aflac for $20 million in December 2018. Aberdeen Standard is a Scotland-based asset management firm with 50 offices worldwide, and hopes to bring its asset management expertise to the Asian region. Aflac is listed in the NYSE that quickly sealed a reinsurance agreement with Sing Life. In May 2019, Hong Kong-based asset manager Ion Pacific invested $7.3 million in Sing Life.

These investments brought Sing Life’s valuation to $358 million, as of

July 2019. As a company embracing insurtech, its CEO Walter de Oude described its thrust as “mobile-first ambitions.” According to de Oude: “Consumers today have access to thousands of financial products and services, yet none are fully integrated and compatible to their mobilefirst lifestyles. Singapore Life was founded as a response to this—to encourage people to take action on their insurance needs.”

In justifying its digital-only approach, de Oude added: “People deserve a better partner for their life insurance needs—one who can reduce the complexities in the purchase journey, and offer efficient, transparent and flexible solution.”

Sing Life first secured its license from the Monetary Authority of Singapore in 2017. In Singapore, it is the first local insurer, with no foreign partners, to be licensed since 1970. In 2018, it acquired the business portfolio of Zurich Life Singapore worth around SG$6 billion and involving around 5,000 policies. From its launch in Singapore, it intends to capture Southeast Asia through the Philippine market. Today, its products include life insurance, endowment plans, wealth portfolio services, family coverage, and others.

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.

Hong Kong stonewalls China’s trillion-dollar easing

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By Shuli Ren | Bloomberg Opinion

HE longer Hong Kong protests drag on, the less likely China will be to unleash the trillion-dollar stimulus markets seem to want. Beijing has become painfully aware that its easy-money policies of the past inflated asset bubbles and widened the wealth gap. Any repeat endeavors could risk stoking social unrest on the mainland.

Over the past decade, China flooded its economy with big-ticket outlays. There was the 4 trillion yuan ($561 billion) package after the collapse of Lehman Brothers Holdings Inc., followed by interestrate cuts in 2014 and 2015, and 3.5 trillion yuan of shantytown redevelopment projects from 2015 to 2018, to name a few.

Lately, however, China has been conspicuously timid with its monetary tools, even as deflation hangs over the country’s producers and the trade-war standoff deepens.

Sure, Beijing lowered banks’ required reserve ratio on Friday; but an outright cut to its benchmark lending rate is nowhere in sight. In fact, one could argue that the central bank bought itself some time to delay any weighty monetary-

policy decisions, after last month’s tweak to the rate lenders offer their best clients.

On the fiscal side, Beijing has found a new way to finance construction projects: Issuance of special-purpose municipal bonds has hit record highs this year. Yet infrastructure spending hasn’t picked up. That’s because the Ministry of Finance has been diligently auditing local governments, sometimes bi-weekly, to ensure money is spent in the right places.

What explains this change of tune?

China increasingly sees Hong Kong’s sky-high home prices as the root cause of the city’s turmoil, which has continued for 14 consecutive weeks. Even the country’s liaison office in the former British

colony cited minsheng, or people’s livelihood, as a valid concern.

Beijing wants to prevent Hong Kong’s discontent from spreading to the mainland, aware that China is now a society of extreme income inequality, too, as measured by the Gini coefficient. Home prices in the first-tier cities of Beijing, Shanghai, Shenzhen and Guangzhou have more than doubled since 2013; as a result, young Chinese, just like their counterparts in Hong Kong, may find that climbing the middleclass ladder is getting harder.

In that light, the hesitation of the People’s Bank of China to unleash an ambitious stimulus program makes sense. Whenever the central bank reopens its taps, a sizable chunk of hot money goes into real estate. The latest minieasing proved no exception: Property investment shot up, while the manufacturing sector, hit hardest

by China’s trade war with the US, remains anemic. President Xi Jinping’s mantra, “apartments are to be lived in, not speculated on,” hasn’t been heeded.

Meanwhile, China is using its strict audit system to discourage

local governments from relying too heavily on the property market, a problem that beset Hong Kong. Last year, the city collected a quarter of its fiscal revenue from land sales, compared with roughly a third for an average mainland municipality.

To its credit, Beijing wants to prevent moral hazard: If a large chunk of government revenue comes from land sales, local officials are incentivized to keep the property bubble aloft, for instance, by nudging regional banks to dole out easy financing to developers.

Shenzhen is now hailed as a model socialist city, in part because personal-income and corporate taxes account for almost all of its fiscal coffers.

Commentators have lamented that China’s reserve ratio cuts and infrastructure spending are too little, too late. They’re missing the point. With the People’s Republic of China about to celebrate its 70th anniversary, social stability is foremost on Beijing’s mind—and that means eschewing the generous stimulus packages that tend to benefit the wealthy and sow the seeds of unrest.

Vigilance is the only way against phishing attacks

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VERYDAY, millions of people all over the world lose their money through cyber attacks.

RiskIQ, a US-based cyber-security company, said online fraudsters stole $2.9 million every minute from global economies in 2018, or a whopping $1.5 trillion for the whole year!

Phishing is one of the most prevalent cyber attacks. It is a technique employed to deceive Internet users, including bank account holders.

“Phishing is a fraudulent practice that induces individuals to reveal their sensitive, personal information such as usernames, passwords, credit-card details, etc., by disguising as a reputable company in an electric communication,” said Edwin Reyes, executive vice president and transaction banking head of BDO Unibank Inc. “These e-mails or text messages frequently use threats or scare tactics to get recipients to click on a link to a fake web site, which look almost identical to the legitimate web site of the firm it’s disguised as. Here, recipients are asked to enter their personal information, which fraudsters steal and later on use to access their bank accounts.”

Con e-mail

IT’S likely that you have already received a suspicious e-mail. Global anti-phishing company Valimail estimates that at least 3.4 billion fake e-mails are sent out to millions of private and corporate e-mail accounts around the world everyday.

Fraudsters do not discriminate against age, gender, profession, religious beliefs, nationality, or incomebracket. Everybody is a target.

In the United States alone, the world’s largest economy, the US Federal Bureau of Investigation’s Internet Crime Complaint Center reported that over $48 million was lost to phishing attacks last year. Worst, more than $1.2 billion was stolen via business e-mail compromise where business e-mails used to transfer money are targeted, and e-mail account compromise, which are private or individual e-mails.

Most recently, the server of USbased bank Capital One has been hacked. The personal information of more than 100 million individuals in the United States and Canada has been stolen in one of the largest data thefts from a bank. Fortunately, the

hacker, a 33-year-old software engineer, has been arrested by the FBI before she could make any fraudulent attempt.

In the Philippines, many people have already been victimized, losing much of their hard-earned savings.

To combat fraudsters and protect Filipinos from phishing attacks, the Bangko Sentral ng Pilipinas, local banks, and other financial institutions have joined forces to put measures in place—such as BSP mandating all banks to migrate from magnetic stripe to EMV chip card technology, and urging banks to invest in more sophisticated cyber-security software to keep their clients’ money safer.

On top of making several system upgrades, BDO uses a service that takes down suspected phishing web sites. “Reported phishing attempts are investigated by our cyber-security specialist partner. The goal is to take down the web site that the phishing e-mail uses to acquire sensitive, personal information,” Reyes said.

Beat the trap

DESPITE the industry’s valiant

efforts, fraudsters, unfortunately, still manage to stay a step ahead.

But this shouldn’t strike fear or prevent us from living our best lives. “We are not allowing phishers to win. Through our antifraud awareness campaign, we are empowering our clients with information to help keep them vigilant against phishing attacks.

Consumer education is key. This is our advocacy and commitment to our clients,” said Reyes.

The BDO executive admits, however, that the public and private sectors cannot beat phishers on their own since they cannot access bank accounts without clients’ authorization. Only clients should have access to their accounts. The bank reminds account holders never to give away their personal, confidential information to anyone as this can be used to open their account and make authorized transactions.

“Remember, banks will never ask for your personal, confidential information. The moment you get prompted to provide this—that’s how you know you are under attack by a phisher,” Reyes said.

A8 Wednesday, September 11, 2019

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BOC bars food waste from foreign vessels

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By Cai U. Ordinario

@caiordinario

HE Bureau of Customs (BOC) has disallowed foreign vessels and aircraft from discharging their kitchen refuse, leftovers and food waste to prevent the spread of African swine fever (ASF) in the country.

In a memorandum dated August 27, the BOC said there is a clamor for the observance of strict quarantine protocols due to the growing concern on the spread of ASF, for which no treatment or vaccine has yet been developed.

“Kitchen refuse, leftovers, food waste, due to possible commingling with ASF-infected pork and pork-based products, from arriving foreign vessel or aircraft whose last port-of-call is an ASF-affected country, is considered a high-risk path of introduction of the causal virus to the healthy population,” the memo read.

On Monday, three weeks after reports on unusual hog deaths

were reported, the Department of Agriculture (DA) announced that the hog disease that killed scores of pigs in Bulacan and Rizal was indeed ASF. Customs Commissioner Rey Leonardo B. Guerrero said barring the discharge of food waste is part of the quarantine protocol of the government. The DA had earlier banned the importation of pork and pork-based products from ASFinfected countries.

Guerrero noted that the Food and Drug Administration has banned the importation of frozen processed pork meat products from ASF-infected sources.

The BOC chief said Section 202

(f) of the Customs Modernization and Tariff Act empowers the agency to exercise supervision and control over the entrance and clearance of vessels and aircraft when it comes to port quarantine regulations.

On Monday, Agriculture Secretary William D. Dar told reporters in a press briefing that out of the 20 blood samples taken from infected hogs which were sent to the United Kingdom for testing, 14 came up positive for ASF. Dar said the government is still verifying if the ASF strain which struck local hog farmers is similar to that which decimated hog populations in Vietnam and China.

The DA conducted the tests after

it received reports last month that an animal disease, which it did not initially identify, is killing hogs in Bulacan and Rizal.

Following the national laboratory’s release of results, the DA launched quarantine and depopulation measures in the two provinces.

Dar said depopulation resulted in the death of 7,400 pigs.

As of September 9, Dar said the DA has not received reports of additional hog deaths in Bulacan and Rizal.

However, the agriculture chief said quarantine and monitoring protocols will remain in place for now to protect hog farms in other parts of the country.

‘PHL consumers have highest Meralco subsidiary level of tech security concern’

By Lorenz S. Marasigan

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@lorenzmarasigan

NISYS Corp. has warned the government and corporations in the Philippines of vulnerabilities in data security, as it found in a research that Filipino consumers reported the highest level of tech security concern among 13 countries surveyed across the globe.

In the Unisys Security Index,

the Philippines received a security concern score of 234 points, or 59 points higher than the global average, and is two points higher than its score the year prior. The index has a maximum score of 300 points, which represents the highest level of concern.

According to the report, Filipinos are concerned about data security, with 90 percent of those surveyed saying they are “seriously concerned” about unauthorized

LOW PRESSURE AREA 70 KM NORTH OF BASCO, BATANES SOUTHWEST MONSOON AFFECTING LUZON as of 4:00 pm - September 10, 2019

access to their personal information. Likewise, 87 percent said they are concerned about hacking incidents, and 84 percent, bankcard fraud.

The report also found that 36 percent of Filipinos suffered from a data breach, the most common of which is e-mail hacking, social engineering scams, information fraud, and illegal access to socialmedia accounts.

See “Security,” A2

SUBIC WORK FORCE BACK AT 135K DESPITE lone bidder CLOSURE OF HANJIN in 2nd CSP

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WHOLLY owned subsidiary of Meralco PowerGen Corp., the power-generation arm of the Manila Electric Co. (Meralco), emerged as the lone bidder for a 20-year powersupply contract for 1,200 megawatts (MW) of baseload capacity.

A total of four power firms earlier expressed interest to participate in the auction via competitive selection process (CSP).

Atimonan One Energy Inc., developer of the 1,200-MW ultra-supercritical coal-fired power plant, submitted its bid offer on Tuesday morning. Two interested bidders withdrew their offers, while another bidder did not submit its bid documents.

Panasia Energy Inc. submitted a letter last August 28 informing the Third Party Bids and Awards Committee (TPBAC) of its withdrawal of participation in the bidding process. Mariveles Power Generation Corp. also submitted a similar letter on Tuesday morning.

First Gen Corp./First Gen Ecopower Solutions failed to arrive and submit documents.

“Based on the foregoing, the TPBAC has determined that there was a failure of bidding and has resolved to report back to the distribution utility on this matter,” said the committee.

The opening of the bid documents was supposed to take place on September 10.

This is the second PSA bidded out by Meralco via CSP. Meralco has lined up a total of three CSPs: A five-year contract for 500 MW, a 20year contract for 1,200 MW greenfield, with commercial operations date (COD) in 2024, and a 10-year contract for 1,200 MW brownfield, with COD in December 2019.

Greenfield power plants are those that are built from scratch, while brownfield plants are already existing.

Savings in bills

MEANWHILE, Meralco assured customers of P0.28 per kilowatt-hour (kWh) of savings in their electricity bills, or P9.46 billion annually for 10 years, from the 10-year PSA contract with 1,200 MW capacity that was bidded out via CSP last September 9.

TPBAC declared the bid offers submitted

by Phinma Energy Corp., San Miguel Energy Corp. (SMEC), and South Premiere Power Corp.

(SPPC) to be the Best Bids.

Meralco said the resulting prices from the CSP are significantly lower than their average generation cost today of around P5.88 per kWh (VAT inclusive). As such, Meralco customers are assured of lower power rates for 10 years.

Phinma’s bid was for contract capacity of 200 MW with an all-in headline rate (VAT inclusive) of P4.7450/KWh and computed all-in LCOE (VAT inclusive) of P4.8849 /KWh. SMEC’s bid was for 330 MW at all-in headline rate (VAT inclusive) of P4.6314/kWh and computed all-in LCOE (VAT Inclusive) of P4.9299/kWh. SPPC’s bid was for 670 MW and had an all-in headline rate (VAT Inclusive) of P4.6314/kWh and computed all-in LCOE (VAT inclusive) of P4.9300/kWh. These bids, which collectively totaled 1,200 MW in contract capacity, are much lower than the all-in headline rate (VAT-inclusive) of P4.9196/kWh and computed all-in LCOE (VAT-inclusive) P5.3694/kWh reserve See “Meralco,” A2

EMPLOYEES in the Subic Bay Freeport Zone surge through the main gate to get to their workplaces early in the morning.

By Henry Empeño Correspondent

S

UBIC BAY FREEPORT—The total active work force in this premier economic zone swelled back to more than 135,000, just six months after the closure of the Hanjin shipyard here early this year that caused a massive manpower cutback.

Figures from the Subic Bay Metropolitan Authority (SBMA) showed a total of 135,224 workers employed in the Subic Bay Freeport in the first half of 2019, compared to 133,940 in the same period last year.

SBMA Chairman and Administrator Wilma T. Eisma said the steady growth in investment projects in Subic has spurred a corresponding increase in new jobs.

“We’re back to more than P135,000 active workers now, which is just a shade lower than our 2018 year-end record of 135,690,” Eisma said. “But by the end of this year, we are confident that we would again break this 2018 employment record.”

As of July this year, the most number of workers were employed in the services sector with a total of 92,453 workers or 68.37 percent among the 2,765 companies engaged in providing services. In June 2018 the record was 76,652 workers (57.23 percent) among 2,470 companies.

The manufacturing sector comes next with 23,031 employees (17.03 percent) working for 88 companies here in the first half. Last year, there were 18,197 employees (13.59 percent) among the 85 firms in this sector.

Meanwhile, the construction sector posted 11,729 workers (8.67 percent) among the 199 companies, compared to 10,868 employees (8.115 percent) working for 185 companies last year.

Eisma noted that the rehabilitation of various infrastructure facilities inside the free port, including roads, had significantly increased the number of workers hired by construction companies here.

On the other hand, Eisma reported a 450-percent drop in the number of employees working in shipbuilding and marine-related services after

the South Korean shipbuilder Hanjin Heavy Industries & Construction Philippines Inc., formerly the single biggest employer in Subic, filed for bankruptcy in January.

SBMA records indicated a total of 5,901 workers (4.36 percent) hired by 96 firms in the shipbuilding and maritime sector in the first half of 2019, compared to 26,559 (19.83 percent) hired by 110 companies in 2018.

The massive layoffs at Hanjin— more than 7,000 workers in December 2018 and another 3,000 in the first quarter this year—significantly reduced employment in the maritime sector here.

One sector that showed positive gain in the first half of 2019 was that of domestic helpers and caretakers employed at residences in the free port. This increased to a total of 2,110 workers (1.57 percent) from a total of 1,664 in the same period last year.

SBMA data also showed that there are more male employees in the Subic work force today, with a total of 91,190 (67.44 percent) compared to 44,034 females (32.56 percent).

However, the females are catching up, considering that there were just 39,079 female workers (29.18 percent) in Subic last year, compared to 94,861 (70.82 percent) males.

Source of labor AMONG the sources of manpower, Olongapo City remained to be the biggest provider in the first half of 2019 with a total of 59,107 workers (43.71 percent), followed by Zambales with 28,855 (21.34 percent); Bataan, 18,501 (13.68 percent); National Capital Region, 4,642 (3.43 percent); Pampanga, 3,574 (2.64 percent); and Tarlac, 1,679 (1.24 percent). Other areas contributed a total of 18,866 workers, or 13.95 percent.

Eisma said the SBMA expects a continuing growth in employment generation with the 45 new investments and 21 expansion projects the agency approved in the first six months this year.

The new investment commitments worth more than P5 billion are projected to generate close to 4,000 new jobs, Eisma added.

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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.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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Isoc, edotco put up new vehicle to build common towers in PHL

S

By Lorenz S. Marasigan

@lorenzmarasigan

HARED infrastructure builders edotco Group Sdn. Bhd. and Isoc Infrastructure Inc. are investing a combined initial equity of $10 million—with an option to increase the investment to $100 million in the next five years—to jointly build common telco towers across the Philippines.

Tuesday saw the introduction of corporate vehicle Isoc edotco Towers Inc., which is equally owned by the Malaysian and Filipino independent tower groups. Together, they will build as many as 500 towers in their maiden year.

“The plan is that we have agreed to invest up to $100 million together over the next few years, so roughly that should be the first thousand of the towers,” edotco CEO Suresh Sidhu said in a press briefing.

Isoc Infrastructure Chairman

Michael C. Cosiquien added that the amount—equally divided between the two groups—will be bankrolled by internally generated funds from both groups.

“We are expecting to invest that in the next three to five years; it depends on order book from mobile network operators,” he said.

The group’s most advanced deal is with Globe Telecom Inc., which requested the tower builders to construct cell towers in the Calabarzon area. These towers are being offered

to Smart Communications Inc. and Dito Telecommunity Corp.

Infrastructure sharing, Sidhu added, has proven to help mobile network operators focus on their core business and service offerings by alleviating the cost pressure of building and maintaining towers.

“We believe that the right sharable infrastructure will be able to meet the current demands for affordable and reliable connectivity in the country. Partnering with local leading players is a key strategy for us to ensure we are meeting the country’s specific needs and we see this collaboration with Isoc as a catalyst to enable the transformation within the Philippines telecommunications sector and lay the right foundation for the country’s digital readiness,” he said.

Cosequien added that the two groups’ combined expertise in building infrastructure, particularly common cell towers, would help improve and upgrade the country’s telco infrastructure.

“As we build these common towers line by line and bolt by bolt, millions of Filipinos will be able to

connect with their families both domestic and abroad. Through this enhanced digital connectivity, opportunities would be opened, gaps would be bridged, and relationships nourished as we help create a much stronger and globally competitive Philippines,” he noted.

Undersecretary Eliseo M. Rio of the Department of Information and Communications Technology (DICT) said the benefits of the shared infrastructure initiative of his agency will help reduce both capital and operational expenses of telcos, which, he said are expected to be passed on to consumers.

“Our target really is to come up with 50,000 more towers because they are just enough to improve our tower density to about 0.52 per 1,000 users, which is still lower than Vietnam. We are targeting that within seven to five years,” he added.

Currently, the Philippines has 17,850 towers that serve over 100 million subscribers. This translates to a tower density of 0.14 or one tower serving 1,000 subscribers.

The ideal tower density is at one tower per 1,000 subscribers.

Petron to sell back Limay power plant to San Miguel

By Lenie Lectura @llectura

P

ETRON Corp. will sell back its 140-megawatt (MW) solid-fired power plant to San Miguel Corp.’s (SMC) power unit in Limay, Bataan.

The country’s largest oil refiner said Tuesday that it has signed a memorandum of understanding (MOU) with SMC Powergen Inc., a subsidiary of SMC Global Power Holdings Corp., for the sale of the power plant.

Under the MOU, SMC Global Power will conduct a preliminary review of the power plant and its operations over a six-month period to determine the feasibility of a

possible acquisition.

Petron owned the plant but sold it to SMC Powergen in September 2013.

Then in December 2016, Petron reacquired the power asset from SMC Powergen for around P20 billion.

The power plant, with a rated capacity of 140 MW, supplies the power requirements of Petron’s 180,000 barrel-per-day refinery in Bataan.

The power facility used to produce only 70 MW. SMC Powergen expanded the plant’s capac it y to 14 0 M W i n 2014 .

The MOU was signed by Petron SVP and CFO Emmanuel E. Eraña, Petron General Manager Lubin B. Nepomuceno, SMC Powergen General Manager Elenita D. Go, and SMC Powergen Director Fer-

dinand K. Constantino.

SMC Powergen is a subsidiary of SMC Global Power Holdings Corp., SMC’s power-generating arm.

Petron is also a unit of SMC. It posted a net income of P2.6 billion at end-June this year from P9.5 billion in the same period last year as petroleum sales bore the impact of the Tax Reform for Acceleration and Inclusion (TRAIN) law.

Consolidated sales reached P254.8 billion from January to June, down 7 percent from the same period last year.

“These setbacks are just temporary and are all part of the business.

We remain optimistic for the second half of the year given signs of modest recovery from gasoline and pet-

57 YEARS OF MEANINGFUL BANKING Bangko Sentral ng Pilipinas Governor Benjamin Diokno (center) graced Metrobank’s 57th

anniversary celebration at the Grand Hyatt Manila, BGC, Taguig, recently. He led the celebratory toast together with Metrobank Chairman Arthur Ty (second from left), GT Capital Holdings Co-Vice Chairman Alfred Ty (second from right), Metrobank Vice Chairman Francisco Sebastian (right), and Metrobank President Fabian Dee. “At 57, Metrobank is one of the biggest and best managed banks in the country.

This is highlighted by Metrobank’s strong balance sheet, adherence to global banking standards, and an emphasis on corporate social responsibility,” said Diokno. He emphasized the importance of putting the customer at the heart of the bank’s products and services, which is the core of Metrobank’s Meaningful Banking campaign.

rochemical margins recently seen in the market,” said Petron President and CEO Ramon S. Ang.

BDO set to offer another ₧5-B LTNCDs this Sept

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OLLOWING its P7.3 billion issuance of LongTerm Negotiable Certificates of Deposit (LTNCDs) in April this year, BDO Unibank, Inc. (BDO) announced on Tuesday that it will offer another P5 billion in LTNCDs this month.

The new issuance is said to be part of the bank’s efforts to diversify the maturity profile of its funding sources and support business expansion plans. BDO earlier issued P7.32 billion worth of LTNCDs in April this year.

LTNCDs are negotiable certificates of deposit with a designated maturity, and represent a bank’s obligation to pay the face value upon maturity, with periodic coupon or interest payments during the life of the deposit.

They are usually seen as an attractive investment especially for individuals, as interest income is exempt from withholding taxes if the LTNCDs are held for at least five years, based on current regulations. LTNCDs are covered by deposit insurance

with the PDIC, subject to PDIC’s applicable rules and regulations, including maximum insurance coverage per depositor up to P500,000.

The September tranche of LTNCDs from BDO will have a term of five and a half years with an indicative rate in the area of 3.75 percent.

The final coupon rate will be set at the end of the offer period. Interest will be paid quarterly, calculated on a 30/360 day count basis. The minimum investment is P100,000 with increments of P50,000. The offer period will be from September 10 to September 20, with the issue date set for September 27, 2019.

BDO, however, reserved the right to shorten the offer period, and has the option to increase the issue size, depending on market demand.

ING Bank N.V., Manila Branch (ING) is the Sole Arranger and Selling Agent for the issue, while BDO and BDO Private Bank are the other selling agents. Bianca Cuaresma

PSALM to rebid real-estate assets after last auction deemed a failure

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HE Power Sector Assets and Liabilities Management Corp. (PSALM) will rebid its real-estate assets (REAs) in Misamis Oriental, Cebu and Ilocos Norte after it declared last week’s auction a failure.

The state firm said there was only one bidder for each REAs in Barangay Aplaya, Jasaan, Misamis Oriental, and Toledo City, Cebu. No one submitted bid offers for the Laoag City asset. The auction was held last September 5.

“PSALM will rebid its REAs...as soon as it has adjusted the bidding schedule and sought the approval of the PSALM board to commence the second round of bidding,” said the state firm.

The land asset in Aplaya, Misamis Oriental, consists of 49 lots with a total area of about 155,504.00 square meters. The land asset in Toledo City, Cebu, consists of 21 lots with a total area of about 129,589.00 sq m. The asset in

Laoag City has a total area of about 3,530 sq m.

These land assets used to be the location of the dismantled Aplaya Diesel Power Plant and the Cebu Diesel Power Plant. In 2009, PSALM privatized the power plant structures based on their scrap value and are now either on ground zero or with minimal structures left.

“PSALM is committed to privatize these land assets within 2019 but it is also important that the adjusted bidding timetable expediting the second round of bidding is in line with applicable laws,” PSALM President and CEO Irene Joy Besido-Garcia said.

Proceeds from the sale of these assets will be used to augment funds to settle PSALM’s assumed financial obligations.

In July, PSALM said it was expecting to raise nearly P740 million from the sale of the REAs. Lenie Lectura

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PSE STOCK QUOTATIONS

September 10, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

56 142.7 91.7 25.8 11.96 69.95 13 46.65 57.8 27.2 203.4 59.45 1.17 18.5 4.85 1.22 0.44 720 0.93 183.3 1780 1.11

57.95 143 92.75 25.85 12 70 13.1 47.3 58 27.55 204.6 59.5 1.21 18.6 4.86 1.25 0.455 750 0.95 183.5 1790 1.12

57 142.5 92.45 25.9 12.08 70.25 13 46.4 57.75 28 205 59.5 1.16 18.6 4.76 1.25 0.445 721 0.94 184.2 1750 1.11

57.95 143.3 92.75 25.9 12.08 70.25 13.02 47.3 57.9 28 205 60 1.21 18.6 4.9 1.25 0.445 721 0.95 184.2 1780 1.11

57 142.2 90.05 25.7 11.9 69.8 13 46.4 57.75 27.2 202 59.45 1.16 18.6 4.76 1.22 0.445 720 0.94 183.5 1750 1.11

57.95 143 92.75 25.85 11.96 69.95 13.02 46.65 57.8 27.2 204.6 60 1.21 18.6 4.85 1.22 0.445 720 0.95 183.5 1780 1.11

11110 1366100 1397680 337400 159400 4143580 17500 93000 9610 26000 449870 10110 2000 4900 20000 38000 150000 50 98000 9060 240 94000

633279.5 195151659 128853887.5 8710795 1906512 289989244.5 227680 4332655 555997.5 711915 91855350 601178.5 2370 91140 96830 46740 66750 36040 92130 1664104 427050 104340

-570 -18280694 32150967.5 -7224535 414152 -176821915 -1038830 -368638 -87475 4267136 -563688.5 -27900 -1880 -

INDUSTRIAL 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 BOGO MEDELLIN CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP 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 MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG

1.31 36.35 0.241 26.1 82.6 357.2 22.3 5.11 4.37 2.94 10.42 33.45 7.15 15.82 90.4 17.04 13.92 6.05 8.97 7.19 91.85 0.69 50.1 227 40.05 8.36 14.12 2.05 12 1.72 5.1 0.125 167.1 1.25 2.42 73.4 80 2.7 6.05 15.02 9.94 13.84 19.3 9 1.08 1.3 116.1 2 5 3.22 5.08 32.6 2.3 8.73 1.55 1.13 11.38

1.34 36.9 0.246 26.4 83.2 359.2 22.4 5.13 4.5 2.95 10.44 33.5 7.22 15.86 109 17.5 14.1 6.08 9 7.2 92 0.7 50.7 227.2 57 8.4 14.14 2.07 12.08 1.73 5.13 0.128 167.2 1.26 2.5 75.6 82 2.71 6.11 15.08 9.98 13.96 19.32 9.1 1.11 1.31 129 2.06 5.13 3.39 5.1 32.9 2.31 8.75 1.62 1.14 11.4

1.31 36.15 0.246 26.3 83.2 361 22.25 5.15 4.4 3 10.44 33.45 7.23 15.78 108.5 17.08 13.9 6.25 9 7.24 92 0.71 50.45 227 35.05 8.37 14.22 2.07 12 1.65 5.13 0.125 168 1.3 2.43 75.1 77.75 2.73 6.01 15.02 9.92 13.86 19.34 9 1.05 1.58 115.5 2.05 5.05 3.3 5.15 32.8 2.2 8.9 1.62 1.2 11.76

1.31 36.9 0.246 26.4 83.65 362 22.8 5.16 4.5 3 10.48 33.6 7.23 15.86 109 18 14.26 6.25 9 7.24 92 0.71 50.95 229 35.05 8.4 14.28 2.11 12.06 1.8 5.13 0.125 169.5 1.3 2.43 75.6 83.3 2.78 6.12 15.08 10 13.98 19.52 9.1 1.17 1.6 115.5 2.05 5.05 3.39 5.16 32.95 2.34 8.9 1.62 1.2 11.78

1.31 36.1 0.242 26.1 82.6 357.2 22.2 5.11 4.37 2.93 10.4 33.35 7.2 15.64 108.5 17 13.9 5.94 8.97 7.19 91 0.69 50.25 225.8 35.05 8.36 14.1 2.04 12 1.64 5.1 0.125 167.1 1.24 2.43 75.05 77.75 2.63 6.01 15 9.92 13.74 19.3 9 1.05 1.3 115.5 2.05 5 3.3 5.07 32.3 2.18 8.58 1.55 1.13 11.24

1.31 36.9 0.246 26.4 83.2 357.2 22.4 5.11 4.5 2.95 10.44 33.5 7.2 15.86 109 17.5 14.1 6.09 8.97 7.2 92 0.7 50.45 227 35.05 8.36 14.12 2.07 12 1.72 5.1 0.125 167.2 1.25 2.43 75.6 80 2.71 6.11 15.02 10 13.96 19.3 9.1 1.08 1.3 115.5 2.05 5 3.39 5.1 32.6 2.31 8.73 1.55 1.15 11.38

270000 464900 60000 3044300 64940 239200 513200 599600 9000 27463000 74000 579600 13300 827900 250 41200 97600 114900 351700 689000 106620 958000 264190 337930 2000 3300 176700 8453000 49400 2071000 10900 10000 581630 5380000 91000 920 2790 8915000 38400 2327400 1937200 214100 3251900 2200 3841000 92457000 10 25000 13000 6000 99000 505700 20541000 167700 258000 868000 760700

353700 -323570 16993060 1430170 14640 79874770 30841700 5401659 3754047 86149074 6457334 11500260 -2207635 3079416 633286 39580 81655880 -11901000 772200 19399385 -5684275 95787 41040 13011988 1253774 27206 10870 712310 1368752 186540 695494 -451354 3162758 -943552 4969850 -1511540 9758619.5 -3201199 662440 13328917 12440760.5 76780598 4076354 70100 27625 2501592 1017046 17503730 1344000 592940 345480 3576320 -42750 55596 1250 97367125 -24048083 6811000 194880 221130 221130 69205 226868.5 23822020 1177020 232687 35091134 34031964 19267195 18901466 2973430 -617920 62888502 -813824 20010 4310440 56199.9999 133189880 -651400 1155 51250 65290 19890 505662 61240 16,336,680( 16,242,019.9999) 46546150 11432340.0002 1455905 402070 -0 986740 -1130 8648140 21506

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 FJ PRINCE A GT CAPITAL JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA REPUBLIC GLASS SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.88 13.76 900.5 52.65 12.12 3.38 6.9 0.79 1.21 1.23 6.76 9.01 13.44 4.12 930 72.8 5.37 5.3 0.485 4.54 14.38 0.63 5.08 0.038 1.37 3 395 1014 174.2 0.84 232 0.229 0.242

0.89 13.92 901 52.8 12.2 3.39 6.99 0.8 1.22 1.24 6.8 9.05 13.6 4.88 931 72.9 6.44 5.89 0.495 4.58 14.4 0.66 5.11 0.04 1.39 3.02 450 1015 174.4 0.86 236 0.235 0.247

0.89 15 907 52.8 12.1 3.4 6.95 0.8 1.2 1.24 6.78 8.83 13.62 4.6 921 71.1 6.47 5.3 0.495 4.51 14.8 0.66 5.15 0.039 1.37 2.94 450 1028 175.2 0.84 236 0.23 0.245

0.9 15 907 53 12.28 3.43 7 0.83 1.23 1.24 6.84 9.1 13.62 4.6 935 72.9 6.47 5.3 0.495 4.58 14.9 0.66 5.16 0.039 1.41 3.02 450 1028 176 0.87 236 0.235 0.248

0.88 13.18 899.5 52.55 12.1 3.35 6.9 0.77 1.19 1.23 6.77 8.83 13.44 4.6 917 71.1 6.47 5.3 0.49 4.51 14.38 0.63 5.05 0.038 1.36 2.94 450 1012 174.4 0.83 234 0.23 0.24

0.89 13.76 901 52.8 12.12 3.39 6.9 0.8 1.21 1.24 6.8 9.05 13.62 4.6 930 72.9 6.47 5.3 0.49 4.54 14.4 0.66 5.11 0.038 1.39 3.02 450 1015 174.4 0.86 236 0.235 0.24

6470000 80500 168140 799710 6105100 1594000 24600 2992000 1366000 304000 454600 8011800 13500 13000 207890 2343440 1000 1000 40000 81000 801800 8000 13307500 4200000 571000 224000 10 672070 127620 498000 1920 190000 1170000

5741200 1120004 151544465 42237507.5 74486750 5433380 170575 2393980 1651990 374030 3088642 72112977 183608 59800 193317725 170343468 6470 5300 19750 369160 11720812 5190 67897860 162300 791470 663730 4500 683053520 22311468 420890 451560 43850 281620

HOLDING & FRIMS

-84440 69520 -46151820 -21730682 14700998 -541130 6320 284975 -32428292 -81620 128796155 54894924.5 100360 -11216 10971268 -83400 501317670 2105190 -42220 -

PROPERTY

ARTHALAND CORP 0.87 0.88 0.87 0.9 0.87 0.88 2153000 1889880 -239850 AYALA LAND 48.9 49 49.1 49.2 48.4 49 7122300 348582155 67400940 ARANETA PROP 1.82 1.88 1.85 1.88 1.85 1.88 200000 373640 BELLE CORP 2.18 2.19 2.19 2.2 2.18 2.19 290000 635020 -50270 A BROWN 0.83 0.84 0.85 0.86 0.83 0.83 2381000 2000960 CROWN EQUITIES 0.22 0.23 0.22 0.231 0.22 0.23 10690000 2353740 11000 CEBU HLDG 5.9 6 5.9 6 5.9 6 10100 59600 -59000 CEB LANDMASTERS 4.68 4.69 4.66 4.74 4.64 4.69 265000 1244460 -37570 CENTURY PROP 0.55 0.56 0.55 0.56 0.55 0.56 4295000 2367340 -182590 CYBER BAY 0.4 0.41 0.405 0.405 0.4 0.405 720000 288950 -4050 DOUBLEDRAGON 21.3 21.4 21.05 21.4 21.05 21.4 33500 711365 53400 DM WENCESLAO 9.3 9.31 9.6 9.6 9.31 9.31 125500 1189143 -143194 EMPIRE EAST 0.45 0.46 0.455 0.46 0.45 0.46 190000 86100 FILINVEST LAND 1.63 1.65 1.66 1.67 1.61 1.63 8537000 13940540 -2484730 GLOBAL ESTATE 1.27 1.29 1.27 1.28 1.27 1.28 48000 61330 8990 HLDG 15.28 15.3 15.32 15.32 15.28 15.28 765000 11705000 -627358 PHIL INFRADEV 1.45 1.47 1.5 1.55 1.45 1.45 4279000 6325120 52330 MEGAWORLD 5.03 5.05 5.17 5.18 5.03 5.03 11628800 58883965 -27293776 MRC ALLIED 0.315 0.32 0.315 0.325 0.31 0.32 7000000 2225900 PHIL ESTATES 0.445 0.45 0.46 0.46 0.45 0.45 590000 266600 -262100 PRIMEX CORP 2.05 2.08 2.05 2.09 2.04 2.08 390000 799750 -10350 ROBINSONS LAND 25.2 25.25 25.4 25.4 25.05 25.2 969500 24470550 -4371090 PHIL REALTY 0.38 0.385 0.39 0.39 0.39 0.39 30000 11700 ROCKWELL 2.36 2.39 2.36 2.36 2.36 2.36 6000 14160 SHANG PROP 3.37 3.44 3.38 3.47 3.36 3.43 1386000 4765110 -2777150 STA LUCIA LAND 2.4 2.43 2.41 2.45 2.4 2.4 271000 656310 SM PRIME HLDG 34.6 34.65 34.9 34.9 34.25 34.65 8807500 304104240 -63884020 STARMALLS 5.62 5.65 5.69 5.69 5.6 5.65 68800 388796 SUNTRUST HOME 0.93 0.96 0.93 0.96 0.92 0.93 603000 560240 -93000 VISTA LAND 7.67 7.69 7.71 7.71 7.64 7.69 2580600 19819479 -9034747

SERVICES ABS CBN 20 20.1 20.15 20.45 20 20 252400 5123920 GMA NETWORK 5.3 5.31 5.3 5.39 5.3 5.31 84600 452434 MANILA BULLETIN 0.445 0.465 0.445 0.475 0.445 0.445 100000 44800 GLOBE TELECOM 1966 1970 1960 1985 1960 1970 30525 60266640 8289185 PLDT 1176 1180 1159 1184 1159 1180 124535 146622690 69232335 APOLLO GLOBAL 0.047 0.049 0.047 0.05 0.046 0.049 6080000 281830 DFNN INC 5.8 6.29 5.8 5.8 5.8 5.8 6700 38860 ISLAND INFO 0.109 0.113 0.113 0.113 0.109 0.113 2150000 236730 10900 ISM COMM 5.44 5.45 5.55 5.56 5.42 5.45 1761100 9646872 83871 JACKSTONES 2.89 2.99 2.85 3 2.85 3 9000 26780 NOW CORP 3.37 3.38 3.6 3.6 3.37 3.38 15298000 52758910 441520 TRANSPACIFIC BR 0.345 0.35 0.355 0.355 0.345 0.35 4760000 1658450 86249.9999 PHILWEB 3.29 3.32 3.29 3.4 3.26 3.32 986000 3265880 -226210 2GO GROUP 10 10.4 10.4 10.4 10 10 13100 131926 5020 ASIAN TERMINALS 18.26 19.72 19.76 19.76 19.76 19.76 100 1976 1976 CHELSEA 7.27 7.3 7.39 7.39 7.24 7.3 348900 2547714 -736 CEBU AIR 93.5 94 94.35 94.4 93.05 94 154140 14472728 2848805.5 INTL CONTAINER 133.1 134 129.5 134.9 129.5 134 1194250 159421650 56133249 LBC EXPRESS 13.82 14.2 13.82 14.2 13.82 14.2 300 4222 LORENZO SHIPPNG 0.9 0.93 0.92 0.92 0.9 0.92 144000 132360 920 MACROASIA 18.98 19 18.98 19.06 18.9 19 72500 1376706 1904 METROALLIANCE A 1.16 1.22 1.27 1.27 1.2 1.2 35000 42070 PAL HLDG 8.41 8.48 8.5 8.5 8.41 8.5 3900 33113 850 HARBOR STAR 1.78 1.79 1.78 1.83 1.78 1.79 908000 1638770 -130870 ACESITE HOTEL 1.55 1.65 1.6 1.66 1.59 1.65 8000 13050 BOULEVARD HLDG 0.058 0.059 0.06 0.06 0.057 0.058 14310000 832350 DISCOVERY WORLD 2.08 2.23 2.23 2.23 2.07 2.23 3000 6530 WATERFRONT 0.68 0.69 0.68 0.69 0.67 0.68 887000 602690 -66640 IPEOPLE 9.3 9.58 9.59 9.59 9.5 9.5 700 6693 STI HLDG 0.68 0.69 0.69 0.7 0.68 0.68 2069000 1412810 BERJAYA 2.34 2.38 2.35 2.39 2.33 2.38 111000 260840 BLOOMBERRY 11.04 11.06 11.1 11.1 11.04 11.04 1058500 11696050 -1357858 PACIFIC ONLINE 2.79 2.8 2.72 2.79 2.72 2.79 61000 168370 LEISURE AND RES 3.27 3.28 3.39 3.39 3.27 3.27 465000 1536260 37350 PH RESORTS GRP 4.76 5.12 4.76 4.76 4.76 4.76 11000 52360 PREMIUM LEISURE 0.72 0.73 0.71 0.73 0.71 0.72 1175000 845600 -102610 PHIL RACING 7.95 8.79 8.5 8.5 7.94 7.94 10100 85794 TRAVELLERS 5.45 5.46 5.45 5.46 5.45 5.45 224100 1221349 -97555 METRO RETAIL 2.45 2.47 2.48 2.48 2.45 2.47 214000 528960 PUREGOLD 43.8 44 44 44 43.75 44 302000 13284860 3727180 ROBINSONS RTL 77.5 77.65 77 78 77 77.5 861060 66780273.5 30950231 PHIL SEVEN CORP 138 141.9 138 138 138 138 150 20700 20700 SSI GROUP 2.85 2.86 2.92 2.93 2.8 2.85 3769000 10719720 4307520 WILCON DEPOT 16.52 16.54 16.6 16.6 16.44 16.52 151100 2,494,984( 1,257,967.9997) APC GROUP 0.58 0.59 0.6 0.6 0.57 0.58 4019000 2350380 -230839.9999 EASYCALL 10.6 10.7 10.02 10.98 9.92 10.6 465300 4916516 GOLDEN BRIA 426 438 435 435 426 435 170 73680 PRMIERE HORIZON 0.61 0.62 0.6 0.64 0.6 0.62 33113000 20590180 -696200 SBS PHIL CORP 9.15 9.2 9.15 9.15 9.15 9.15 100 915

MINING & OIL ATOK 11.26 11.98 11.98 11.98 11.5 11.96 3700 43794 APEX MINING 1.18 1.19 1.18 1.2 1.18 1.18 2383000 2824920 11900 ABRA MINING 0.0017 0.0018 0.0017 0.0018 0.0017 0.0018 43000000 73300 ATLAS MINING 2.55 2.6 2.55 2.56 2.55 2.56 34000 86840 BENGUET A 1.16 1.22 1.21 1.21 1.21 1.21 1000 1210 BENGUET B 1.12 1.2 1.12 1.12 1.12 1.12 16000 17920 COAL ASIA HLDG 0.28 0.29 0.28 0.28 0.28 0.28 180000 50400 CENTURY PEAK 2.7 2.71 2.7 2.71 2.7 2.71 341000 921500 -40650 FERRONICKEL 1.7 1.71 1.65 1.75 1.65 1.7 45602000 78322840 24981610 GEOGRACE 0.215 0.219 0.219 0.22 0.215 0.22 260000 56840 LEPANTO A 0.111 0.112 0.11 0.112 0.11 0.112 600000 66210 LEPANTO B 0.112 0.115 0.112 0.115 0.111 0.114 130000 14720 MANILA MINING B 0.01 0.012 0.011 0.012 0.01 0.012 13200000 144200 MARCVENTURES 1.2 1.23 1.16 1.23 1.16 1.23 381000 462680 -12100 NIHAO 1.06 1.08 1.06 1.09 1.06 1.08 48000 51030 NICKEL ASIA 4.35 4.36 4.3 4.55 4.25 4.35 16761000 73949020 -5157760 OMICO CORP 0.48 0.49 0.48 0.48 0.48 0.48 20000 9600 ORNTL PENINSULA 0.87 0.88 0.87 0.87 0.86 0.87 323000 280410 PX MINING 3.94 3.98 3.9 3.97 3.85 3.94 230000 892950 -78700 SEMIRARA MINING 23.1 23.4 23.2 23.4 22.95 23.4 1379600 32081415 -12713170 UNITED PARAGON 0.0064 0.0069 0.0064 0.0068 0.0064 0.0068 2000000 13200 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.012 0.012 500000 6000 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 100000 1200 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 500000 5600 PHINMA PETRO 9.62 9.7 9.42 9.81 9.4 9.7 703500 6778219 12948 PXP ENERGY 11.1 11.14 10.42 11.1 10.42 11.1 1324600 14380362 -400750

PREFFERED

HOUSE PREF A 98.8 98.85 99.65 99.65 99.65 99.65 10 996.5 AC PREF B1 502 505 502 502 501 502 340 170650 AC PREF B2 500.5 505 504.5 505 500.5 505 1060 531175 -15135 SMC FB PREF 2 990 995 995 995 995 995 50 49750 FGEN PREF G 107 107.5 107.5 107.5 107.5 107.5 920 98900 LR PREF 0.99 1 0.99 1 0.99 1 465000 460360 PCOR PREF 3A 1046 1055 1050 1050 1046 1046 2300 2409800 PCOR PREF 3B 1063 1065 1062 1063 1062 1063 6060 6441580 SMC PREF 2C 78.5 78.9 78.95 78.95 78.9 78.9 180 14206 SMC PREF 2D 75.5 75.8 75.8 75.8 75.8 75.8 1000 75800 SMC PREF 2E 75.6 76.15 76.2 76.2 76.2 76.2 3360 256032 SMC PREF 2G 76.5 77.95 76.5 76.5 76.5 76.5 11860 907290 SMC PREF 2H 75.6 76.9 75.6 75.6 75.6 75.6 13400 1013040 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.6 5.13

18.78 5.14

18.46 5.16

18.6 5.16

18.46 5.14

18.6 5.14

281500 152100

5227550 782194

WARRANTS LR WARRANT

1.71

SMALL & MEDIUM ENTERPRISES ITALPINAS 6.28 KEPWEALTH 11.36 XURPAS 0.95

1.72

1.72

1.75

1.71

1.72

100000

172760

-

6.3 11.4 0.96

6.07 10.16 0.94

6.37 11.56 0.97

6.03 9.5 0.94

6.29 11.4 0.96

1203900 3173900 1117000

7532310 34897614 1066220

-41272 -11400 47500

EXHANGE TRADE FUNDS FIRST METRO ETF

118.3

-3091046 -627594

118.9

118.5

118.9

118.2

118.9

4950

586698

2370

www.businessmirror.com.ph

Keppel plans more mixed use projects after Podium

S

By VG Cabuag

@villygc

INGAPORE’S Keppel Land Ltd. said it plans to have more of its mixed-use development projects in the country after the completion of the Podium in Ortigas Center, close to two decades since it started.

Tan Swee Yiow Keppel Land CEO said the company has no sites yet but a mixed-use development—or a project that has a mall and office, among others—is now a good proposition for its expansion in the country.

The company may also go into developing residential projects but these will be in Metro Manila and

not in the provinces.

“It’s hard to get a site like this at the Podium,” he said.

Keppel and BDO Unibank Inc. on Tuesday formally launched the Podium, a project that was started in 2002.

Keppel Philippines Properties, a subsidiary of Keppel Land, holds a 40-percent stake in The Podium,

while BDO and an associate company hold the remaining stakes.

Singapore’s President Halimah Yacob flew into the country for the launch and for the Singapore fair happening at the mall.

“Today, we mark the completion of The Podium development, comprising an expanded Podium mall and an office tower, which is envisioned to serve the growing demand for prime office spaces of the Ortigas Center. The Podium project clearly demonstrates the shared optimism of Keppel and BDO on the growth prospects of the Philippines’s retail and office sector as economic growth and domestic demand remain strong,” Teresita Sy-Coson, BDO chairman, said.

Developed in phases, phase one comprises the Podium retail mall, which was opened in 2002. The

second phase of the retail mall commenced operations in 2017.

Construction of The Podium West Tower started in 2015 and was completed in May 2019. The total leasable area of the entire development is about 140,000 square meters, comprising about 50,000 sq m of retail space and about 90,000 sq m of office space.

It has a 2,000-sq-m garden wall, the largest vertical green wall in the country with over 6,500 plants, which provides a green lung to the property’s environment. In recognition of its sustainable features, it was awarded the LEED Gold Mark (core and shell) pre-certification by the US Green Building Council, and is the first building in the Philippines to receive the provisional Green Mark Gold Award by the Building and Construction Authority of Singapore.

C Estates trades first tokenized properties in PHL

C

ESTATES Inc. has already tokenized P88.5 million worth of properties in Makati City prior to the commencement of operation of its online platform in November.

This initiative makes the Philippines one of the pioneers in digital property investment using blockchain technology.

One Roxas Triangle and West of Ayala are the first two condominiums in the country, the selling prices of which—P80 million and P8.5 million, respectively—have been digitized by the real-estate exchange provider.

Such secondary market properties have been encoded in a global public database using NEM blockchain platform.

Already listed in C Estates’s portal, they are now being traded under the Condominium Certificate of Titles that can be owned by foreign

investors. “They are having a hard time paying in cash,” C Estates Chief Operating Officer (COO) Elixes Becislao said of the restriction to foreigners in terms of remittances in the country. “So one way is to put it in cryptocurrency so we can break those boundaries.”

According to him, they have been receiving a lot of inquiries from various potential buyers, mostly Chinese, Japanese and Koreans.

“They are very interested because the process is very easy. They don’t even have to come here in the Philippines. They don’t even have to sign a lot of paper work. All they have to do is just send in the cryptocurrency even [if they are located] in other countries. And then, we’ll process the documentation for them,” he explained.

Apart from simplifying the slow and strenuous process of purchasing and selling estates in the country, C

Estates’s marketplace also serves as a viable investment tool.

Since One Roxas Triangle, for instance, has been already occupied by

MUTUAL FUNDS

tenants, this is quite attractive for investors because there’s already an income that will be coming in, the COO said. Roderick L. Abad

September 10, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 259.25 0.68% -0.89% 0.11% 2.8% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5604 6.88% 3.76% 1.39% 8.3% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0233 0.14% -1.95% -1.37% 3.08% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9649 5.89% N.A. N.A. 7.09% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.865 2.84% N.A. N.A. 5.4% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4593 2.48% 0.56% 0.17% 3.53% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8773 3.52% -3.67% N.A. 4.85% MBG EQUITY INVESTMENT FUND, INC. -A 117.05 0.41% N.A. N.A. 0.76% PAMI EQUITY INDEX FUND, INC. -A 52.4181 4.31% 0.73% N.A. 6.49% PHILAM STRATEGIC GROWTH FUND, INC. -A 545.83 4.64% -0.27% -0.05% 6.04% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3218 3.83% 0.95% 1.15% 5.41% PHILEQUITY FUND, INC. -A 38.8346 4.14% 1.75% 1.13% 6.01% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0367 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3259 5.3% 1.61% 1.89% 7.4% PHILIPPINE STOCK INDEX FUND CORP. -A 889.1 5.32% 1.41% 1.8% 7.32% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9195 5.86% 0.35% N.A. 6.92% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3261 4.33% 1.4% 1.23% 6.58% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0216 4.9% 1.34% N.A. 7.05% UNITED FUND, INC. -A 3.7328 5.03% 2.86% 2.43% 6.63% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 119.1789 5.69% 2.22% 2.86% 7.61% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9541 -4.8% 1.13% -1.85% 2.69% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.3035 1.36% 7.11% N.A. 17.94% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6684 -0.45% -2.59% -2.57% 1.04% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3145 2.79% -0.64% 0.15% 4.77% AC Energy Inc. will pursue renewable-energy (RE) opportunities in the region after it FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6693 4.08% 0.53% -1.18% 4.96% -A 1.3535 1.31% N.A. N.A. 3.77% secured another certification under the Asean Green Bond Standards. GREPALIFE BALANCED FUND CORPORATION

NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9663 5.87% 1% 1.15% 6.68% “We will scale up our renewable-energy initiatives across the Asia Pacific,” said AC PAMI HORIZON FUND, INC. -A 3.8221 6.68% 0.02% 0.52% 8.3% Energy President and CEO Eric T. Francia.

PHILAM FUND, INC. -A 17.1209 7% 0.03% 0.42% 7.63% SOLIDARITAS FUND, INC. -A 2.1584 3.72% 0.81% 1.54% 4.31% After issuing the first Climate Bond Initiative-certified US dollar green bonds SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9117 5.51% 0.92% 0.98% 7.13% publicly listed in Southeast Asia in the amount of $410 million, AC Energy recently SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0254 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0165 N.A. N.A. N.A. N.A. bagged a certification anew under the Asean Green Bond Standards an initiative SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0138 N.A. N.A. N.A. N.A. that facilitates Asean capital markets in tapping green finance to support sustainable SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9954 5.08% 0.61% 0.36% 8% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES regional growth.

COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.0387 10.45% 2.33% 2.44% 9.63% “AC Energy’s inaugural green bond opens the door to a wider investor base PAMI ASIA BALANCED FUND, INC. -A $0.9835 1.1% 1.12% -1.43% 7.64% and enables our renewable-energy investments. With the Asean Green Bond label, SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7881 3.83% 5.27% 2.87% 14.49% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1233 5.34% 3.35% N.A. 11.22% we can further tap into green finance to support our sustainable regional growth, BOND FUNDS providing a firm assurance to investors that these projects will benefit a low-carbon PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 353.72 3.76% 2.23% 2.32% 2.98% and climate-resilient economy,” said Francia.

ATRAM CORPORATE BOND FUND, INC. -A,1 1.9144 2.79% 0.15% 0.09% 2.97% AC Energy plans to deploy the funds for renewable-energy expansion around the COCOLIFE FIXED INCOME FUND, INC. -A 3.0806 5.33% 5.34% 5.28% 3.51% region, including the Philippines, Indonesia and Vietnam.

EKKLESIA MUTUAL FUND INC. -A 2.212 4.3% 1.42% 2.14% 3.89% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.344 5.68% 1.44% 1.66% 6.3% The Asean Green Bonds Standards is and meet investor interest for green GREPALIFE FIXED INCOME FUND CORP. -A P 1.6078 1.65% -1.25% 0.3% 2.77% investments and is part of the Asean Capital Markets Forum’s broader efforts in PHILAM BOND FUND, INC. -A 4.324 10.25% 0.81% 2.11% 10.31% PHILEQUITY PESO BOND FUND, INC. -A 3.7383 7.89% 1.53% 1.75% 6.29% developing green finance for the region. Lenie Lectura SOLDIVO BOND FUND, INC. -A 0.9517 6.13% -0.22% N.A. 6.79% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0245 9.32% 2.05% 2.69% 9.35% SUN LIFE PROSPERITY GS FUND, INC. -A 1.675 9.06% 1.57% 2.2% 8.77% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES GCASH, operated by Globe Fintech Innovations Inc., (Mynt) has expanded its ALFM DOLLAR BOND FUND, INC. -A $464.51 4.44% 1.81% 2.79% 3.59% ALFM EURO BOND FUND, INC. -A Є220.45 3.35% 1.29% 1.57% 3.66% partnership with Puregold Price Club Inc. through the introduction of a barcodeATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1983 7.03% 2.08% 2.47% 6.45% based account top-up method, which aims to facilitate better customer experience FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0259 4.44% 0.92% N.A. 4.44% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7178 0.66% -2.07% 0.42% 1.63% in 368 Puregold branches nationwide.

PAMI GLOBAL BOND FUND, INC -A $1.1043 6.53% -0.32% -1.27% 6.56% Mynt Vice Chairman Ernest L. Cu said with the new service, GCash customers PHILAM DOLLAR BOND FUND, INC. -A $2.4289 12.18% 1.81% 3.63% 11.89% may now use their barcodes to top up their accounts more seamlessly. To cashPHILEQUITY DOLLAR INCOME FUND INC. -A $0.0601851 5.86% 1.9% 2.06% 5.59% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1862 9.7% 1.07% 3.07% 10.94% in, account holders simply have to input their desired amount on the GCash app, MONEY MARKET FUNDS generate a barcode, and have the cashier scan it.

PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 124.57 4.11% 2.63% 2.07% 3.05% “We are launching what is likely to be the ultimate experience in a store for FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0218 N.A. N.A. N.A. GCash. It’s an ultimate experience because we streamlined payment,” he said in a N.A. media briefing Tuesday.

PHILAM MANAGED INCOME FUND, INC. -A 1.2392 5.64% 2.38% 1.45% 4.85% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2533 3.92% 2.79% 2.17% 2.8% Mynt Chief Commercial Officer for Payments James Mauricio V. Aujero added that PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES the goal behind this new service is to “make life easier, more convenient and more SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.032 2.23% N.A. N.A. 1.58%

briefs

AC ENERGY EYES MORE RE PROJECTS

GCASH, PUREGOLD TIEUP EXPANDED

secure for our users through fintech.”

His group expects “a huge proportion of its 20-million user base will benefit from the Cash-In via Barcode and Payment via Barcode every month, as Puregold is one of the country’s biggest supermarket chains.”

Puregold was also the first national supermarket chain to accept mobile payments via GCash. It recently adopted the Scan-to-Pay via Barcode tech of GCash, a first in the country. Lorenz Marasigan

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."

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

PHL rice stocks rose 40.3% in August–PSA

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By Cai U. Ordinario

& Samuel P. Medenilla

@caiordinario @sam_medenilla

HE country’s rice inventory in August, when farmers do not usually harvest palay, was enough to feed all Filipinos for more than two months, according to the latest data released by the Philippine Statistics Authority (PSA).

In its monthly “Rice and Corn Stocks Inventory” published on September 9, the PSA said Philippine rice inventory as of August 1 reached 2.133 million metric tons, 40.3 percent higher than the 1.52 MMT recorded last year.

The bulk of the August rice inventory was stored in commercial warehouses, which accounted for 41.25 percent of stocks, or 880,150 metric tons. Rice in households reached 792,660 MT, or 37.15 percent of total inventory.

The National Food Authority (NFA), which has stepped up its purchases of unhusked rice from local planters, had 461,030 MT of rice. The food agency accounted for 21.61 percent of inventory.

Rice stocks in NFA warehouses, commercial warehouses and households were

higher compared to the year-ago inventory. The NFA, which had only 101,150 MT of rice in the same period last year, recorded the highest increase in August at 355 percent.

Compared to the July inventory, however, the August figure was lower by 21.4 percent for households, 20 percent for commercial warehouses and 10.8 percent for the NFA. PSA data also showed that the country’s corn stocks reached 724,080 MT, 40.7 percent lower than the previous year’s inventory of 1.221 MMT. The figure is also lower by 12 percent than the 822,700 MT recorded in July.

Commercial warehouses held the bulk of corn stocks at 630,780 MT. The figure, however, is 45.2 percent lower than last year’s 1.151 MMT.

Households accounted 93,300 MT or nearly 13 percent of the total inventory for the period. The NFA did not have corn stocks.

Undervaluation

AGRICULTURE Secretary William D. Dar said the NFA Council will meet this week to review the reference prices for rice imports amid claims that these are undervalued.

Dar told the BusinessMirror that he will defer to the NFA Council on matters related to rice imports and the reference prices currently being used by the Bureau of Customs (BOC).

The NFA Council is chaired by the agriculture secretary and is comprised of 16 members, including government economic managers and a farmer-representative.

In a recent BusinessMirror Coffee Club Forum, the Department of Finance (DOF) said tariff collection from imported rice has reached P9.2 billion and is on track to breach the P10-billion mark this year.

The collected taxes will be used for government programs to assist rice planters, as mandated by Republic Act 11203, or the rice trade liberalization law.

The Federation of Free Farmers Inc. alleged that tariff collection could have been higher if the imports were not undervalued.

The DOF said, however, that the reference prices of the BOC were set using historical data and in consultation with the Department of Agriculture.

Axelum banks on local F&B market to boost growth

By VG Cabuag

@villygc

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OCONUT products maker Axelum Resources Corp. said it is banking on the growth prospects of the local food and beverage (F&B) market as it pushes through with its P7.7-billion initial public offering (IPO).

“Over the past 10 years, exports by the Philippine coconut industry have grown by approximately 10 percent annually. Traditional coconut products, such as copra and crude coconut oil, grew by around 11 percent annually. Nontraditional products grew by 25 percent annually,” said Romeo Chan, Axelum chairman.

Axelum plans to sell as much as 700 million primary shares and 430 million secondary shares at an offer price of up to P6.81 apiece.

The IPO is set to run from September 24 to

30. First Metro Investment Corp. has been appointed as issue manager, bookrunner and lead underwriter.

The company produces coconut-based products, including coconut water, desiccated coconut, coconut milk powder, coconut milk/cream, reduced fat coconut, sweetened coconut, coconut oil and other coconut products.

Its main production facility is located in Medina, Misamis Oriental. It owns two manufacturing and distribution facilities strategically located in the United States and Australia.

The company is planning to acquire two local companies to help its expansion and one firm in Vietnam. No timetable is set for the said acquisition.

Chan said most of the company’s products

fall under the fast-growing nontraditional category, that include coconut water, coconut milk powder, coconut cream, and other. In particular, he said Axelum is bullish on its two largest products—desiccated coconut and coconut water.

Axelum’s full line of coconut products are used by international food and beverage companies, confectioneries, bakeries, private label supermarkets and grocery store chains, food service industries, coconut coffee creamer manufacturers, cosmetics and diet prepared food market.

Some of the company’s clients include Vita Coco, The Hershey Co., ConAgra Foods, Kellogg’s, Quaker, Nestlé, Russell Stover, Unilever, Kroger, Mondelez International, Ferrero, Kraft Foods, General Mills, Campbell’s, Mars, Cadbury Schweppes and Calbee.

DA-10 activates task force against swine fever

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AGAYAN DE ORO CITY—The Department of Agriculture-10 (DA10) said Monday it has activated its multisectoral task force to address the entry of the African swine fever (ASF) into the country.

This after Agriculture Secretary William D. Dar has confirmed Monday morning that 14 of 20 samples from sick pigs in local piggeries tested positive for ASF. Juliet Araos, chief of DA-10’s regulatory division, said the Regulatory Law Enforcement Council (RLEC) has already been put in place even before Dar’s announcement.

The RLEC is composed of DA and its concerned units, such as the Bureau of Animal Industry, health department, Philippine National Police, local government units, and other government agencies.

Araos said the quarantine personnel are now monitoring the movement of imported meats in seaports and airports.

She said the DA has focused on disseminating information to all industry stakeholders, from the huge livestock growers down to the backyard hog raisers.

Araos said that although the ASF cannot be transferred to humans, meat from infected pigs is not fit for consumption.

In a separate interview, Dr. Katherine Mae Caterial, president of the Philippine Veterinary Medical Association in the region, said small hog farmers that practice “swill feeding” or those that feed their livestock with food scraps are the most vulnerable to the ASF infection as it can help spread the disease due to the unsanitary method of feeding.

Although there is no vaccine for the ASF, Caterial said biosecurity measures can deter the ASF from spreading further.

Biosecurity is a set of procedures intend-

ed to protect humans or animals against diseases or harmful biological agents.

She said measures, such as disinfection of humans and vehicles in quarantine centers can help contain the virus from infecting healthy livestock.

During a recent forum on ASF held here, Jake Sepe, a quarantine officer, said Bukidnon as the breeding center for local livestock, must be protected from the virus.

Roads going to Bukidnon have at least two quarantine stations with foot bath and tire dip facilities in place for passengers and vehicles. Sepe said that since the Philippines is an archipelagic country, there is still time to contain the ASF. “We can still control it [from spreading] by compartmentalizing so that the ASF would not spread from island to island,” he said.

According to the Philippine Statistics Authority data, Northern Mindanao was the third-highest in hog production, from January to March, with 50.26 thousand metric tons. Central Luzon was the highest producer at 111.60 thousand MT, followed

by Calabarzon with 92.2 MT.

Plea

GOV. Eugenio Jose Lacson on Tuesday appealed to travelers not to bring pork to Negros Occidental in the wake of the confirmed cases of ASF in Luzon.

“Again, we have to be alert. We’re asking our Negrenses, especially if you have relatives coming home from Manila or even from out of the country, please don’t bring pork.

Let’s just buy local pork,” the governor said in a press briefing on Tuesday.

Lacson chairs the Provincial ASF Task Force, which he formed last month to ensure the protection of the P6-billion swine industry of the province.

Negros Occidental is the Philippines’s top backyard swine producer, figures from the PSA showed.

On Monday, the DA confirmed that ASF caused the depopulation of more than 7,000 hogs in Bulacan and Rizal farms last month.

The Provincial Veterinary Office (PVO) also called for sustained vigilance among Negrenses against ASF. Dr. Renante Decena, provincial veterinarian, said shippers and travelers should follow quarantine procedures and refrain from visiting swine farms in Luzon.

“Don’t bring in pork and pork products from Luzon,” Decena said, pointing out that as there are already positive cases in the area, the traveling public is now possible carriers of the disease.

“Shoes and clothing, or even indirect contact with swine farms infected of the swine fever, might carry the virus going to Negros,” he added.

In Executive Order 2019-23, Lacson directs the ASF task force to carry out the proper implementation of the ASF prevention and control measures, enhance biosecurity practices in all ports of entry and swine production facilities, and coordinate and cooperate with the appropriate national government agencies in case of a suspected outbreak.

The body is also tasked to enhance biosecurity practices in all ports of entry and swine production facilities, conduct initial disease investigation and institute outbreak control protocols in case of a suspected outbreak, and impose closure of any farm confirmed to be infected with ASF. Records of PVO showed that Negros Occidental has a current annual swine production of 510,000 heads from both backyard and commercial raisers. PNA

Editor: Jennifer A. Ng • Wednesday, September 11, 2019 B3

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Wednesday, September 11, 2019

The World BusinessMirror

Editor: Angel R. Calso

IMF: Surging trade uncertainties about 10 times previous peaks

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oncerns about global trade have reached nearly 10 times the peaks seen in previous decades and could shave about 0.75 percentage point off world economic growth this year, according to data compiled by the International Monetary Fund (IMF).

The Americas and Asia-Pacific are most affected by concerns about the US-China trade war, while Africa is least affected, the IMF said on Monday in a new index aimed at quantifying trade uncertainty.

The index is based on reports from the Economist Intelligence Unit (EIU) dating back to 1996 and borrows from methodology used in the IMF’s own World Uncertainty Index.

To calculate the new gauge, IMF researchers counted how often the word “uncertainty” appears in the EIU reports near terms, such as “tariffs,” “protectionism” or “trade.”

Following 20 years of stability,

the World Trade Uncertainty index started to climb around the third quarter of last year, coinciding with tariff action by the US and China, according to the IMF. After a brief respite the index rocketed up in the first quarter of 2019, reflecting a substantial increase of US tariffs on Chinese imports on March 1, the IMF said.

While trade uncertainty has generally been rising across the globe, the increase was much higher for advanced economies.

It remained “moderately low” in the Middle East, Central Asia, and Africa, according to the IMF. Bloomberg News

In this August 6, 2019, file photo, a woman walks by a money exchange shop decorated with different countries currency banknotes at Central, a business district in Hong Kong. China’s trade with the United States fell sharply in August as a tariff war that threatens global economic growth worsened. AP/Kin Cheung

Indonesia says stalled regional trade pact at ‘point of no return’

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loba l trade tensions could derail a landmark regional agreement encompassing 16 countries including India, China and Australia if a deal is not struck by November, said Indonesian Minister of Trade Enggartiasto Lukita.

Negotiations for the Regional Comprehensive Economic Partnership, or RCEP, have reached the “point of no return” as increasingly hostile trade tensions could dampen a deal seven years in the making, Lukita said in a statement on Monday evening.

“A settlement this year is very urgent, if not, the RCEP negotiations will lose important momentum that can drive changes and progress in the world economy,” he said.

Trade ministers from each of the participating countries resolved to reach a deal by November even as they have yet to hash out a solution to unspecified “fundamental issues.”

Individual ministers “found it difficult to find agreements among the 16 RCEP participating countries. One of them finds solutions that work for one or two countries with too many differences with the outlying majority,” Lukita said.

Indian criticism

Encompassing nearly half of the world’s population, RCEP includes all 10 of Southeast Asia’s Asean countries, as well as Japan, South Korea, Australia, New Zealand, India and China.

India’s External Affairs Minister Subrahmanyam Jaishankar criticized China for what he described as one-sided trade policies, casting doubt over its presence in a deal. “ The big concerns of India are, of course, one, its relationship with China because we have an enormous trade deficit with China,” Jaishankar said during a panel discussion in Singapore on Monday.

Singaporean Senior Minister of State for Ministr y of Trade and Industr y Chee Hong Tat, urged India to remain in negotiations that require “some give and take.”

“Singapore has t a ken a consistent position since the start of t he RCEP negot i at ions t hat it is impor t a nt for RCEP to inc lude Ind ia, g iven t he si ze a nd potent i a l of Ind i a’s economy,” he sa id on Tuesd ay. “ We wa nt Ind i a to be pa r t of RCEP.” Bloomberg News

Alibaba’s Jack Ma steps down as industry faces uncertainty

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EIJING—Alibaba Group Founder Jack Ma, who helped launch China’s online retailing boom, stepped down as chairman of the world’s biggest e-commerce company on Tuesday at a time when its fast-changing industry faces uncertainty amid a US-Chinese tariff war.

Ma, one of China’s wealthiest and bestknown entrepreneurs, gave up his post on his 55th birthday as part of a succession announced a year ago. He will stay on as a member of the Alibaba Partnership, a 36-member group with the right to nominate a majority of the company’s board of directors.

Ma, a former English teacher, founded Alibaba in 1999 to connec t Chinese exporters to American retailers.

The company has shifted focus to serving China’s growing consumer market and expanded into online banking, enter tainment and cloud computing.

Domestic businesses accounted for 66 percent of its $16.7 billion in revenue in the quarter ending in June.

Chinese retailing faces uncertainty amid a tariff war that has raised the cost of US imports.

Growth in online sales decelerated to 17.8 percent in the first half of 2019 amid slowing Chinese economic growth, down from 2018’s full-year rate of 23.9 percent.

Alibaba says its revenue rose 42 percent over a year earlier in the quarter ending in June to $16.7 billion and profit rose 145 percent to $3.1 billion. Still, that was off slightly from 2018’s full-year revenue growth of 51 percent.

The total amount of goods sold across Alibaba’s e-commerce platforms rose 25 percent last year to $853 billion. By comparison, the biggest US e-commerce company, Amazon.com Inc., reported total sales of $277 billion.

Alibaba’s deputy chairman, Joe Tsai, told reporters in May that the company is “on the right side” of issues in US-Chinese trade talks. Tsai said Alibaba stands to benefit from Beijing’s promise to increase imports and a growing consumer market.

Alibaba is one of a group of companies, including Tencent Holding Ltd., a games and social-media giant, s e a rc h e n g i n e B a i d u . c o m I n c . a n d e - commerce rival JD.com that have revolutionized shopping, entertainment and consumer services in China.

Alibaba was founded at a time when few Chinese were online. As Internet use spread, the company expanded into consumer-focused retailing and services. Few Chinese used credit cards, so Alibaba created the Alipay online payments system.

Ma, known in Chinese as Ma Yun, appears regularly on television. At an annual Alibaba employee festival in Hangzhou, he has sung pop songs in costumes that have included blond wigs and leather jackets. He pokes fun at his own appearance, saying his oversize head and angular features make him look like the alien in Director Steven Spielberg’s movie E.T. The Extraterrestrial.

The company’s $25-billion initial public offering on the New York Stock Exchange in September 2014 was the biggest to date by a Chinese company. AP

Oil extends gains as new Saudi minister signals cuts to continue

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il extended gains from the highest level in almost six weeks as Saudi A ra b i a’s n e w e n e rg y m i n i s te r signaled his commitment to output cuts, while US crude stockpiles are expected to continue their decline.

Futures rose for a fifth day in New York after advancing 2.4 percent on Monday. Prince Abdulaziz bin Salman, appointed at the weekend after the d i s m i s s a l o f K h a l i d A l - Fa l i h , s a i d t h e re wo n’t b e a ny ra d i c a l c h a n g e in the kingdom’s oil policy. US crude inventories probably dropped for a four th week through S eptember 6, according to a Bloomberg survey before government data Wednesday.

Crude is still down more than 10 percent from its peak in April as a prolonged US-China trade war dents t h e o u t l o o k f o r c o n s u m p t i o n . Th e

International Energy Agenc y cut its forecast for global oil-demand growth again, blaming the impact of the spat between the world’s two largest economies, while Energy Aspects Ltd. estimates the dispute is depressing prices by $15 a barrel.

Oil prices may remain range-bound in the $50s over the next six months as the global economy shows growing signs of a slowdown due to the trade war, said Tomomichi Akuta, a senior economist at Mitsubishi UFJ Research and Consulting Co. in Tokyo.

West Texas Intermediate (WTI) oil for October delivery added 29 cents, or 0.5 percent, to $58.14 a barrel on the New York Mercantile Exchange as of 8:02 a.m. in London. The contract increased $1.33 to $57.85 on Monday, the highest close since July 31.

Brent for November settlement rose 28 cents, or 0.5 percent, to $62.87 a barrel on the ICE Futures Europe Exchange, climbing for a fifth day. The global benchmark oil traded at a $4.82 premium to WTI for the same month.

“There is nothing radical in Saudi Arabia; we all work for the government, one person comes one person goes,” Prince Abdulaziz told reporters at the World Energy Congress in Abu Dhabi on Monday, his first public comments since he was appointed. The new minister takes charge as Opec+ seeks to bolster prices at a time when the US-China trade war is sapping oil demand.

Prince Abdulaziz will continue the kingdom’s oil polic y where his predecessor left off, Opec Secretar yGeneral Mohammad Barkindo said on Monday. He is “a bridge builder and an astute diplomat,” Barkindo said.

Bloomberg News

Economy BusinessMirror

www.businessmirror.com.ph

Senate to DBM: Find funds for govt workers’ pay hike

By Butch Fernandez

@butchfBM

S

ENATOR S moved to e xplore options to implement awaited salary increases for government workers, including rank and file workers, burdened by “financial trouble.”

At public hearing on Tuesday of the Senate Committee on Civil Service, Government Reorganization and Professional Regulation chaired by Sen. Ramon “Bong” Revilla Jr., the panel reviewed possibilities to promptly carry out the pay hike plan announced by Presi-

dent Duterte in his July 22 State of the Nation Address (Sona) before a Joint Session of Congress.

Revilla steered the panel deliberations to tackle hurdles in the way of implementing the “Salary Standardization law 5, Salary Increase and Granting of Additional Benefits for Teachers.” At the onset, Revilla reminded panel members on “the urgent need to implement a viable and fair salary increase for all government employees to help augment their source of income and provide a decent living for their families.”

The senator prodded Depart-

ment of Budget and Management (DBM) officials present at the hearing to quickly “find funds to implement” the awaited pay hike adjustments.

Revilla reminded the agencies tasked to implement the pay hike that no less than President Duterte himself already “gave the green light” for the salary increase during his fourth Sona.

In turn, invited panelists from the Civil Service Commission (CSC) and DBM, as well as various government and labor sectors and groups, aired their concerns surrounding

the awaited implementation of promised pay hike.

The Senate committee was also informed that “some government employees were forced to pawn their ATM cards as collateral for loans,” while other workers are in danger of being charged or arrested for “failure to pay their loans on time.”

This prompted Revilla to reassert “the importance of the salary increase for government workers so that they will no longer fall prey to loan sharks and other lenders who would pressure them if they fail to follow their payment schedule.”

Cement firm triples production capacity BSP moves to implement national QR payment of Davao City plant to 2.4 million MT standard for fintech industry

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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AVAO CITY—Leading cement maker Holcim Philippines Inc. has ramped up its cement production here by more than three folds following the completion of its expansion program in June this year.

Holcim now produces 2.4 million metric tons, more than triple the 700,000 MT it had previously produced.

The company said it has installed an overhead crane and a new pipe for loading cement to the silos from the pier. It has also used eco-hoppers, or receiving equipment, to improve control of dust emissions.

The upgraded plant facilities here were inaugurated on August 16.

“This milestone is not ours alone.

It is a success that everyone in Davao is a part of. Davao is a home of Holcim Philippines. Our products are made with materials from Davao, by the people of Davao. The bags of cement that come out of this facility are as native to Davao as durian,” Holcim Philippines Chairman Tomas Alcantara said.

“So when you see the progress of South Mindanao in the coming years, bear in mind that this was made possible not just by Holcim Philippines but by Davao as well,” he added.

Holcim Philippines President and Chief Executive Officer John Stull

said the Davao plant was producing only less than 200,000 tons when it opened in 1968. “Now it is capable of producing more than 10 times that, reflecting our company’s resolve to support the sustained growth and development of this region.”

Trade Undersecretary for Consumer Protection Ruth Castelo said Holcim’s sustained expansion has helped the needs of a growing local economy like Davao and called on the company “to continue following government standards that protect customers.”

“We trust that Holcim Philippines, as one of the leaders in the cement industry, holds in high regard the quality and safety of your products not just for the growth of your company, but for the protection of your customers, the consuming public,” she said.

In a message delivered by Councilor Louie John Bonguyan, Davao City Mayor Sara Duterte-Carpio said she hoped that Holcim would maintain its sustainable business environment “without sacrificing quality and the environment and contributing to the socioeconomic development of the country as we all continue to ‘Build, Build, Build’ the Philippines.”

Holcim operates cement manufacturing facilities in La Union, Bulacan, Batangas, Misamis Oriental and Davao.

It has aggregates and dry mix business and technical support facilities for building solutions, the company said.

By Lorenz S. Marasigan @lorenzmarasigan

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HE Bangko Sentral ng Pilipinas (BSP) has made public the proposed circular for the national QR payments standard to industry players and other stakeholders for comments, and may soon implement the new scheme to further harmonize and promote interoperability in the financial technology (fintech) industry.

Deputy Governor of the Financial Supervision Sector Chuchi G. Fonacier said in a chance interview that the circular for the QR standard will be released either this month or in October.

“For the rest of the year, we’re working on the QR. We’ve already exposed the circular for comments of the industry. Our practice is once we issue regulation, we have it exposed for comments,” she said.

The Central Bank will be adopting the standard of EMVCo, a consortium of financial companies led

by Europay, Mastercard and Visa.

“EMVCo will be our national standard for QR. This is what is agreed by the Philippine Payments Management Inc., so some players will have to adjust,” Fonacier said.

Currently, fintech companies

and banks have different QR payment schemes. For instance, a merchant which has been enrolled in the QR payments system of GCash, PayMaya and BDO has three separate QR codes for offline digital payments.

Because of this, Fonacier said, the Central Bank will be providing a transition period for the unified QR standard.

“There will be a time for them to transition, but the goal is to have only one national standard,” she said.

“We’re pretty much optimistic that within the year, that could already be issued, the circular.”

It is proposed that the national QR code standard will be called QR PH, which can be used for peer-topeer transfers via automated clearing houses InstaPay or PESONet, and peer-to-merchant transactions.

“Actual implementation may be a phased approach—that’s what we will be looking at. We need to recognize that we have already existing standards. So we need to consider those factors,” Fonacier said.

The QR Code Standard is targeted to prevent the proliferation of closed-loop infrastr ucture and promote interoperability of systems, domestically and even regionally.

B5 Editor: Vittorio V. Vitug • Wednesday, September 11, 2019 A4

Philippines leads Asean peers in hiring women for govt jobs

By Cai U. Ordinario @caiordinario

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HE Philippines is leading the charge in Southeast Asia in terms of hiring more women in government, according to a report released by the Asian Development Bank (ADB) and Organisation for Economic Co-operation and Development (OECD).

The report, titled Government At a Glance: Southeast Asia 2019, the country also did well compared to its peers in terms of having autonomous human resource (HR) units in various line agencies.

Hiring more women increases the ability of the government to provide more employment in the country, while having autonomous HRs bodes well for transparency.

“The Philippines as you see is comparing quite well. There is a sense of commitment for reforms and I would like to highlight [these] two points that…definitely, you will see through the data, [that] are coming out quite impressively,” ADB Chief Thematic Officer Chiara Bronchi said in a briefing on Tuesday.

Based on the report, between 2009 and 2016, the share of women in public-sector employment increased to 53.7 percent from 50.7 percent. This is close to the OECD average of 58.4 percent in 2016.

Further, the number of women in politics also increased to 29.5 percent in 2018, from 20.5 percent in 2008. The share of women ministers also increased to 25 percent in 2017, from 9.1 percent in 2008.

In terms of HR, data showed the country ranked first in the region in terms of the extent of delegation of human resources management practices to line ministries.

The Philippines scored 0.6/1 when the average in the region was 0.5/1. The Philippines’s score stated that this indicated a high number of human resource management decisions that are delegated to the ministry or agency level.

“Such delegation can help organizations better meet their needs.

In order for HRM [human resource management] autonomy to be successful, HR staff in ministries and agencies need to have the requisite skills to support HR decision-making,” the report stated.

The joint report, ADB said, saw governments in Southeast Asia strengthening their governance structures and institutional ca-

pacity to deliver better services to their people.

The Government at a Glance: Southeast Asia 2019 provides internationally comparable data on government resources, processes, and outcomes on public governance in member-countries of the Asean.

The report covered 34 indicators in areas, such as public services, including promoting digital government, creating more transparency, and providing better work opportunities for women.

“Strengthening public institutional capacities is critical to all operations, and ADB remains committed to supporting our developing member-countries in improving public-sector management functions and financial stability, while promoting more effective, timely, corruption-free, and citizen-centric delivery of public services,” said ADB Vice President for Knowledge Management and Sustainable Development Bambang Susantono.

The report also found that seven Southeast Asian countries have introduced digital identification tools and only two have fully integrated their online portals to improve public services and make government services more accessible to the public.

Budget transparency, a key component for open government, allows citizens to access information on how public money is raised, allocated and used. All Southeast Asian countries published their approved budget.

The report stated eight countries publish citizens’ guides to the budget, which explain in plain language the objectives of the budget and provide information to help citizens understand the budgeting process and assess its impact on their lives.

However, ADB said only half of them provide economic information, such as the methodology and economic assumptions of the fiscal projections supporting the budget.

All countries are working closely with the private sector to build new infrastructure through public-private partnerships, but only half perform relative assessments to evaluate whether PPPs are more efficient than the traditional infrastructure procurement system.

The report suggests further analyses and assessments are needed for informed decision-making to improve infrastructure management.

Elusive pot of gold: Small-scale mining sans Minahang Bayan faces bleak future PSA ditches

By Jonathan L. Mayuga @jonlmayuga

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MALL-SCALE mining in the Philippines continue to face a bleak future without “Minahang Bayan.”

As small-scale mining operations outside Minahang Bayan are illegal, the Department of Environment and Natural Resources (DENR) is stepping up the processing of Minahang Bayan applications to legalize their operation.

There are around 300,000 to 500,000 small-scale miners in the countr y based on estimates provided by various sources, including the DENR, which remain vastly unregulated.

In 2015, the DENR, then under Secretary Ramon J. P. Paje, signed Department Administrative Order (DAO) 2015-3, which revises the implementing rules and regulations of Republic Act 7076, or the People’s Small-Scale Mining Act of 1991, which will allow the government to improve the regulation of small-scale mining, including the sale of gold to the Bangko Sentral ng Pilipinas (BSP).

The guideline for small-scale mining limits activities to the extraction of minerals mainly gold, within a declared Minahang Bayan and centralizes processing in a minerals processing zone within a Minahang Bayan area. This way, the government will be able to better monitor gold production by small-scale miners, who have been suspected of selling their gold to the black market to avoid paying taxes to the government. The practice reportedly resulted in the steep drop in the annual BSP gold purchases.

Small-scale mining contributes around 70 percent to the country’s total gold output.

From its 2010 total gold output of 40,847 kilograms, the country’s annual production dropped to only 18,423 kg in 2014, with only 633 kg coming from small-scale mining, or 3.43 percent, of the total.

The BSP purchases gold from small-scale miners in accordance with the small-scale mining law.

The BSP only has five existing buying stations located in Quezon City Baguio City, Davao City, Zamboanga City and Naga City.

However, the lack of Minahang Bayan continues to trouble small-scale miners.

According to DENR Undersecretary Analiza R. Teh, the DENR, through the Mines and Geosciences Bureau (MGB) is processing applications submitted by the provinces. There are also applications for Minahang Bayan at DENR Regional Offices.

So far, MGB records reveal that from just three declared Minahang Bayan in 2015, there are now a total of 29 DENRapproved Minahang Bayan, 21 of which are located in Mindanao. Eleven of these Minahang Bayan were approved under Environment Secretary Roy A. Cimatu.

Because of lack of Minahang Bayan where small-scale mining, including the processing of minerals are supposed to be conducted, miners continue to conduct “kamote mining,” or mineral ore digging in previously condemned mine tunnels.

In the Caraga region alone, there are 465 illegal small-scale mining operations and 87 illegal mineral processing plants. This is because of the fact that there are only three declared Minahang Bayan and only one

approved mineral processing plant in the region. There are also 19 Minahang Bayan applications pending for approval, while so far, 25 applications have been denied.

The processing of gold by small-scale miners is also causing serious environmental problems as many of them continue to use cyanide and mercury which are prohibited by law.

Small-scale miners make use of their backyard to process gold. Aside from mercury being emitted into the atmosphere, the mine wastes are indiscriminately dumped in makeshift mine tailings, finding their way in nearby water bodies.

The Department of Science and Technology (DOST), through the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEERD) under its Engineering Research and Development program, in partnership with the University of the Philippines College of Engineering—Department of Mining, Metallurgical and Materials Engineering (DMME) led by Dr. Herman D. Mendoza, has developed an environmentally friendly gold-processing technology and constructed so far four facilities as early as 2016.

However, these facilities, which are ready for technology transfer, have no takers until now.

In an earlier interview, PCIEERD Executive Director Enrico C. Paringit said this could be because of budget constraint or lack of financial capacity to buy or lease the facilities.

The facilities called Community-Led Integrated Non-Mercury Non-Cyanide Gold Extraction Method designed to be a sustainable and practical extraction alternative to

amalgamation and cyanidation.

Aside from improving the efficiency of gold production throughout the field testing, the technology also addresses proper waste treatment.

Field testing is ongoing but Paringit said the facilities are ready for transfer to users. These facilities are in Benguet, Camarines Norte, Compostela Valley and Caraga region.

The facility in Itogon, Benguet, already has a processing capacity of up to 10 metric tons of ore per batch.

In Region 11, DOST 11, and UP Diliman have already forged a partnership with the Provincial Government of Compostela Valley, Municipality of Nabunturan, Barangay Katipunan, Nabunturan Integrated Miners Development Cooperative, and Compostela Valley State College for the project, located at Barangay Katipunan, Nabunturan, Compostela Valley province.

The other facilities are still waiting to be tapped by potential users.

In an earlier interview, Mendoza said another hurdle is the fact that there are no declared Minahang Bayan where the facilities are located.

“We have the technology and the facility. Now it is time for the government to identify areas where the miners can extract the minerals,” he said.

Gold production from small-scale mining constitute about half of the country’s annual gold output, but the decline of small-scale mining’s contribution has led authorities to believe that the drop in BSP gold buy is due to the fact that small-scale miners are avoiding taxes.

Capi for population, housing census

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HE Philippine Statistics Authority (PSA) may not be able to use Computer Aided Personal Interview (Capi) for the 2020 Census of Population and Housing (CPH) due to budgetary constraints.

This was confirmed by Officer in Charge Deputy National Statistician Censuses and Technical Coordination Office Candido Astrologo in an open forum at the launch of the Asian Development Bank ’s (ADB) 50th edition of the Key Indicators for Asia and the Pacific on Tuesday.

Initially, the PSA was aiming to use Capi for the first time in a nationwide CPH. The Capi would have made it easier for the government to collect census and population information.

“The PSA made adjustments on the conduct of the census and we are committed to deliver the result of the census count before end of the year, as mandated,” National Statistician Dennis S. Mapa told the BusinessMirror via SMS. Astrologo said in the open forum on Tuesday that the PSA will still continue using Capi for other surveys, such as the Labor Force Survey. Cai U. Ordinario

B6 Wednesday, September 11, 2019

IABC Quill Awards, PR Awards Asia recognize SM Cinema’s Reel-to-Real Campaign

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ARNERING recognition in both the local and international scene, SM Cinema bagged awards at the 17th Philippine Quill Awards with their Reel-to-Real Campaign.

Organized by the International Association of Business Communicators (IABC) Philippines the campaign was awarded in the Communications Management category, winning Quill Awards of Excellence for both the Customer Relations and Special & Experiential Events categories.

SM Cinema was also nominated by the prestigious PR Awards Asia in Hong Kong, which celebrates the most outstanding campaigns in Asia-Pacific’s

public relations industry. The campaign was a finalist in the PR Events category.

The Reel-to-Real campaign is a series of activations timed with film releases throughout the year wherein SM Cinema brought to life movies and created spaces where moviegoers could immerse themselves into the world of their favorite films.

For the different Marvel releases, for instance, SM Cinema partnered with The Walt Disney Company Philippines and invited guests to The Secrets of Wakanda Exhibit for Black Panther, Ant-Man and the Wasp Not the Actual Size Exhibit for AntMan and the Wasp and The Avengers Hall & Fan Event for Avengers: Infinity War.

Installations based on characters, locations and items from the movies were put on display while the Ant-Man exhibit also featured gigantic, blown-up items, allowing fans to see through the eyes of Ant-Man. Meanwhile, fans who attended the biggest Marvel fan meet were surprised by a live video conference with Avengers: Infinity War actors Benedict Cumberbatch, Karen Gillan, and director Joe Russo.

The Superman 80th Anniversary Fan Event was also held for the superhero’s anniversary, which showcased some memorable Superman items such as KalEl’s ship and Kryptonian Prison Rings and displayed some Superman fun facts.

The event was attended by Superman cosplayers and movie geeks.

In partnership with Warner Bros., SM Cinema brought the stars of Aquaman, Jason Mamoa and Amber Heard with director James Wan to the Philippines to a fan event at SM Mall of Asia, where they made a surprise visit to the special Asian Premiere of Aquaman in IMAX Theatre at SM Mall of Asia.

For a premiere cinema experience, book your tickets through the website, www.smcinema.com or download the SM Cinema mobile app. For updates, follow /SMCinema on Facebook and @SM_ Cinema on Instagram!

Manila Water Foundation’s Hygiene Campaign, Prize for Engineering Excellence Video win at the 17th Philippine Quill Awards

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N its continuous pursuit for excellence, Manila Water Foundation emerged as one of the winners at the 17th Philippine Quill Awards with two winning entries recognized during the awarding ceremonies at the Marriott Hotel in Pasay City on August 30.

The Foundation received the Award of Merit for the “Scientist for the Filipino Rice Farmers: The Story of Dr. Orge” under the Communication Skills Division - Audio/Visual Category. The video tells the story of the 2017 MWF Prize for Engineering Excellence (the Prize) sole awardee, Dr. Ricardo Orge, who dedicated his talents and skills in building tools for Filipino farmers. The video was used as a communication tool during the awarding of the Prize in 2018. The Prize, is a biennial nationwide search for Filipino engineers who have developed solutions in the areas of water, sanitation, environment and sustainability for the benefit of communities, contributing to the country’s social development agenda.

Meanwhile, the entry “Clean Hands – A Recipe for Health: Manila Water Foundation’s Global Handwashing Day Celebration" won Award of Excellence under Communication Management Division -Nonprofit Campaign Category. The

celebration of the Global Handwashing Day is part of MWF’s Health in Our Hands program, which promotes proper handwashing as a lifestyle. In 2018, MWF’s celebration of GHD focused on the theme “Clean Hands—A Recipe for Health” which portrayed the connections between proper handwashing and good nutrition, linking food hygiene and human nutrition to achieve holistic well-being. To date, the campaign has reached more than 4.6 million individuals.

The Philippine Quill Awards is presented annually by the International Association of Business Communicators (IABC) – Philippines. It recognizes exemplary communication research, programs, skills, and creative work, which are evaluated using IABC’s highest global standards.

In photo, from left: Manila Water Foundation Communications Officer Sandy Sandoval, Executive Director Reginald Andal, President Ferdinand dela Cruz, Special Programs Officer Princess Bugay and--representing 2018 GHD partner, Cleene-Brand Manager Mika Valente received the Award of Excellence for the entry “Clean Hands – A Recipe for Health: MWF’s Global Handwashing Day Celebration” at the Marriott Grand Ballroom in Pasay City on August 30.

TOYOTA FOSTERS “ALWAYS BETTER” TEAM. Toyota Motor Philippines Corporation (TMP) recently awarded its outstanding Team Members under the “Shop/Team Awards & Recognition (STAR) Program for Excellence” during TMP’s 31st Anniversary celebration at its headquarters in Santa Rosa City, Laguna. TMP president Satoru Suzuki (sixth from left) congratulated all the winners and encouraged them to live up to their roles as change leaders and change champions, to drive and implement change that will bring positive outcomes to customers’ satisfaction, TMP’s stability, and Team Members’ engagement and motivation. With Suzuki in photo are the winners, together with TMP vice chairman Dr. David Go (seventh from left), and TMP Labor Management Council chairwoman Lani Dotollo (sixth from right).

DOT launches ‘Eats. More Fun in the Philippines’ food tourism campaign

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HE Department of Tourism and Jollibee, best known for its world-renowned crispy chicken meal - Chickenjo -- recently launched “Eats. More Fun In The Philippines”, as an invitation for foodies and tourists alike to visit the country and have a taste of the unique Filipino cuisine.

“We feel that this is an opportune time to put the spotlight on Filipino food and flavors— and we’re more than glad to share the same sentiment with the country’s number one fast food chain, Jollibee. And through this campaign we’ll highlight the uniquely Pinoy dishes that will make our country a prime food destination for travelers all over the globe,” DOT Secretary Bernadette Romulo-Puyat shared.

The campaign introduced The Pinoy’s Table, a mini-documentary that showcases the country’s rich cuisine and dining culture.

The documentary headlines notable chefs, Chef JP Anglo and Filipino-American Celebrity Chef Jordan Andino, and YouTuber creator and comedian Mikey Bustos.

“The support of the the private sector through partnership like these are big boost in promoting the tourism and our country. With this partnership between the DOT and Jollibee, we hope to entice more people worldwide to experience Filipino culture, but this time through the diverse and sumptuous dishes and the unique ways of enjoying them,” Puyat added.

In photo, Sec. Puyat (fourth from left) together with Jollibee Food Corporation officials Ernesto Tanmantiong (third), Joseph Tanbuntiong (fifth), JJ Alano (sixth), and Francis Flores (seventh) indulge in the Filipino boodle feast.

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BIANCA ANDREESCU rapidly rises in the rankings. AP

EW YORK—A year ago at this time, Bianca Andreescu was ranked outside the Women’s Tennis Association (WTA) top 200 after losing in the first round of US Open qualifying. Look at her now.

Thanks to winning her first Grand Slam title at Flushing Meadows, Andreescu jumped 10 spots to a career-high No. 5 in the rankings on Monday, while Ash Barty again replaced Naomi Osaka at No. 1. Andreescu’s 6-3, 7-5 victory over Serena Williams in the final on Saturday continued the 19-yearold Canadian’s rapid rise from 178th at the end of last season.

She is the first woman in the Open era, which began in 1968, to win the US Open in her main-draw debut at the tournament. This was only her fourth career appearance at any Slam.

“I don’t think I was ever as composed as I am now, or even a year ago.

I would get really down on myself and I would get very negative thoughts going through my mind. I would smash rackets. I’d just yell at myself during matches. Actually not even during matches, even during practice, too,” Andreescu said.

“But I found that that way wasn’t working to my advantage at all. So I started...seeking some advice from other people,” she said. “Ever since then, I’ve been trying to have a very positive outlook on everything. I think that’s really been helping me, even in tough situations.”

Williams, a 23-time Grand Slam champion, slid from No. 8 to No. 9 after losing in the US Open final for the second consecutive year—and finishing as the runner-up for the fourth time in the past six majors.

Osaka, the 2018 champion in New York, and Barty both lost in the fourth round. That allowed Barty to move up from No. 2, and Osaka dropped to No. 4. Barty already briefly was No. 1 after winning the French Open in June for her first major championship.

Karolina Pliskova is No. 2, and Elina Svitolina is No. 3.

Three Americans made big moves in Monday’s rankings: 15-year-old Coco Gauff went up 34 places to 106th after reaching the third round before losing to Osaka, Kristie Ahn moved up 48 to 93rd and Taylor Townsend rose 33 to 83rd.

US Open men’s champion Rafael Nadal stayed at No. 2 in the Association of Tennis Professionals rankings and closed the gap between him and No. 1 Novak Djokovic, the defending champion who exited in the fourth round.

Runner-up Daniil Medvedev is up to a personal-best No. 4 from No. 5 after reaching his first Grand Slam final, where he erased a big early deficit and pushed Nadal to five sets before losing to the Spaniard 7-5, 6-3, 5-7, 4-6, 6-4 in a match Sunday that lasted nearly five hours.

Nadal collected his fourth trophy in New York and his 19th Grand Slam title in all, moving within one of Roger Federer’s record for men.

Federer remained at No. 3 in Monday’s rankings after losing in the quarterfinals while bothered by a bad back.

The man who beat him in five sets before losing to Medvedev in the semifinals, Grigor Dimitrov, went from No. 78 to No. 25. The other man who lost in the semifinals, 23-year-old Matteo Berrettini, rose 12 spots to a career-best 13th. AP

ANDREESCU NO. 5, MEDVEDEV NO. 4 N

EW YORK—Elise Mertens and Aryna Sabalenka are both focused on their promising singles careers.

But if they’re going to play doubles, they may as well win a Grand Slam tournament. Mertens and Sabalenka defeated Victoria Azarenka and Ash Barty 7-5, 7-5 on Sunday at Arthur Ashe Stadium to win the US Open women’s doubles championship. Mertens and Sabalenka lost only one set in the tournament and won their first Grand Slam title as a team. The fourth-seeded team faced only one other seeded team on their way to the title.

“From the start of the season, start of the year actually, we were like, we’re going to play together,” Mertens said. “We didn’t think we would achieve this big thing.”

Mertens was defeated in singles play in the quarterfinals by eventual champion Bianca Andreescu.

“Even if we lose singles, and it’s always tough, we still committed to play doubles,” Mertens said. “Of course in a Grand Slam you want to win, you want

to win matches. You want to win this title. So we’re just 100 percent committed to both. Of course, singles is a priority still.”

Brazilian player Diego Matos, meanwhile, was banned for life from professional tennis on Monday after being found guilty of match-fixing.

Matos, aged 31, was also fined $125,000 and ordered to repay illicit winnings of $12,000 by the Tennis Integrity Unit (TIU).

The TIU said he contrived the outcome of 10 matches in 2018 at International Tennis Federation-level events in Brazil, Sri Lanka, Ecuador, Portugal and Spain.

Matos was also found guilty of failing to cooperate fully with TIU investigators, failing at three interviews to provide his mobile phone and financial records.

He was currently ranked 373 in doubles, with a career-best of 241 in December, since when he’s been suspended. His highest singles ranking was 580 in April 2012. AP

Elise, Aryna: Why not win in doubles?

HERE’S the current count of Major victories: Roger Federer, 20; Rafael Nadal, 19; and Novak Djokovic, 16. AP

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EW YORK—At some point, of course, Rafael Nadal and the rest of the Big Three will stop winning Grand Slam titles, someone younger will emerge and a shift at the top of tennis will happen.

Just not yet.

And while so much attention in the sport has been focused recently on trying to figure out who will break up the dominance of Nadal, Roger Federer and Novak Djokovic, it might just be more fun to contemplate— from now until the Australian Open in January, at least—how that trio’s competition for the most major championships will end up when they’ve all walked away from the game.

After eventually emerging with a 7-5, 6-3, 5-7, 4-6, 6-4 victory over Daniil Medvedev in a memorable seesaw of a US Open final Sunday night, Nadal insisted that, yes, he wants the record by the time he’s done, but, no, it’s not all that matters to him or how he’ll define his own happiness.

That’s fine, of course.

To each his own.

But the rest of us can—and should—track it and care.

“He’s in a better position today,” one of Nadal’s coaches, Francisco Roig, said after his guy edged Medvedev in a 4-hour, 50-minute epic. “But all of them are still winning tournaments. It’s a long way, but he’s in the best position.”

Here’s the current count: Federer, 20; Nadal, 19; Djokovic, 16.

In 2019, Djokovic and Nadal won two majors apiece, drawing closer to Federer, whose most recent Slam trophy came at the 2018 Australian Open.

Each has a career Grand Slam, too.

Federer’s tally: eight from Wimbledon, six from the Australian Open, five from the US Open, one from the French Open.

Nadal’s tally: 12 from the French Open, four from the US Open, two from

The Associated Press

By Howard Fendrich

Wimbledon, one from the Australian Open.

Djokovic’s tally: seven from the Australian Open, five from Wimbledon, three from the US Open, one from the French Open.

The other relevant numbers are their ages: Federer, 38; Nadal, 33; Djokovic, 32.

Nadal hasn’t been this close in the “standings” since the “score” was Federer 1, Nadal 0, after Wimbledon in 2003. By the time Nadal picked up his first major, at the 2005 French Open, he trailed 4-0.

For so many years, so many folks were prepared to proclaim Federer the “GOAT” (Greatest Of All-Time)—based largely on his accumulation of majors and a subjective assessment of supposed aesthetics. Others would point out that Nadal’s edge in their head-to-head series, which currently stands at 2416, should give him the nod. Djokovic, meanwhile, elbowed his way into the “best ever” discussion, too, because he’s the only one to have won four majors in a row, leads both of the others head to head (26-22 over Federer, 28-26 over Nadal) and broke up their hold on the No. 1 ranking.

What’s most impressive, really, is how this trio has ruled the sport for about 15 years.

“The three of us are doing things that never were done in the history of tennis,” Nadal said. “I take pride in being part of this fight.”

They have won 51 of the last 59 Grand Slam titles, including the past 12, and there hasn’t been a first-time male champ at a major since 2014.

September 11, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ednesday,

Here’s how different things are in the women’s game: Bianca Andreescu’s 6-3, 7-5 win against Serena Williams on Saturday made the 19-year-old Canadian the seventh first-time major champion in the past 11 events.

Or put another way: Andreescu gave the women a Grand Slam champion born in the 2000s before the men have had one who was born in the 1990s.

Some took it as a sign that change was afoot when Nadal was the only member of the Big Three to get to the semifinals at the US Open. Djokovic, the defending champion and No. 1 seed, stopped while way behind in his fourthround match, citing pain in his left shoulder. Federer, dealing with a bad back, bowed out in five sets in the quarterfinals.

Too old for this?

Two 23-year-olds reached the semifinals, Medvedev and Matteo Berrettini, so maybe this was the time for a younger man to hold a trophy? No. Instead, Nadal became the first man in the professional era to win five majors after turning 30.

“I can say that I’m sure all of us, we’re fighting our best to try to make this transition. It’s really tough, because these guys, they are playing good tennis. I don’t know what else to say. They are just playing amazing tennis,” Medvedev said. “It’s really tough to beat them, even to get a set from them. Even every game, to win, is tough. We’re just doing our best job to try to make it happen sometimes.”

In the meantime, Federer versus Nadal versuss Djokovic provides plenty to talk about.

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Sports BusinessMirror

IT’S FUN UP THERE!

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Wednesday, September 11, 2019

HENZHEN, China—Giannis Antetokounmpo now has a little more time to get ready for the National Basketball Association (NBA) season.

That would be an unwanted consolation prize.

The reigning NBA Most Valuable Player’s (MVP) stay at the World Cup is over, even after a victory in the team’s finale. Greece needed to beat the Czechs by at least 12 points to have any chance of reaching the quarterfinals, and instead is heading home after an 84-77 win on Monday wasn’t enough to push it to the next round.

“He’s proud of his team.... We gave everything we have,” said Thanasis Antetokounmpo, the MVP’s brother, along with his Greece and now Milwaukee Bucks teammate. “It’s crazy—you win and you don’t get to the next round.”

Giannis fouled out with 5:32 left, called for charging on a play that left the Greek bench and fans howling in disbelief. Greece was up by 10 at the time, on the cusp of the margin it needed to advance.

Czech guard Tomas Satoransky of the Chicago Bulls knew it was a big call.

“We knew that he would go for the Eurostep or try to force it,” Satoransky said. “In Europe, they’d probably call it. In the NBA, they wouldn’t call it, obviously, because they protect stars.”

Giannis did not make himself available to reporters for the second consecutive game. He also told Fiba officials that he was too upset to speak Saturday after Greece’s 69-53 loss to the US. Giannis is the first reigning NBA MVP to play in the World Cup or the world championships.

Only three reigning MVPs have played in the Olympics—Michael Jordan in 1992, Kobe Bryant in 2008 and LeBron James in 2012, all for the US, and all going home with a gold medal.

“He came, he worked 100 percent, he tried 100 percent to get this game,” Greece Coach Thanasis Skourtopoulos said.

Greece, up by seven both times, had to take fouls three times in the closing seconds— unusual for a team with a lead, of course, but the only number that mattered was the scoring margin and the Greeks simply needed more points.

It almost worked: Nick Calathes’s deep three-

HE CAME. HE WORKED. HE TRIED.

REIGNING National Basketball Association Most Valuable Player Giannis Antetokounmpo’s stay at the World Cup is over. AP

pointer with seven seconds left pushed Greece’s lead to nine, but Jaromir Bohacik—who was 5 for 6 from the line in the final 20 seconds—made a pair with 4.6 seconds remaining, and that was the end for Greece.

Greece had its chances, leading by as many as nine in the first half. But the Czechs closed the half on a 16-6 run—a stretch where Giannis went to the bench with 1:10 remaining after an ill-advised offensive foul, his third personal of the game—and, because of the pointdifferential tiebreaker, Greece knew it needed a dominant 20 minutes of second-half basketball to keep hope alive.

And it wasn’t to be. So soon, it’ll be time to head back to Milwaukee.

The Bucks open training camp October 1, play their preseason opener October 7 against Chicago and open the regular season on October 24 at Houston—in a game that will feature the last three MVPs, with Antetokounmpo, Rockets guard and 2018 winner James Harden, and new Houston guard Russell Westbrook, the 2017 MVP when he was with Oklahoma City. AP

U.S. MISSION 1 ACCOMPLISHED S

HENZHEN, China—The first mission for the US is complete: The Americans are going to the Tokyo Olympics.

And now the World Cup quarterfinals await.

Kemba Walker and Myles Turner each scored 16 points, and the Americans earned a top seed for the quarterfinals by beating Brazil 89-73 on Monday in the final second-round

game of the tournament.

The US, bidding to become the first nation to win three consecutive World Cups, will face France on Wednesday—and won’t have to go through any extra qualifying tournament next summer for the Olympics.

“We’re thrilled that we’ve qualified for the Olympics,” said US Coach Gregg Popovich, who will lead the Americans in Tokyo next summer as well. “With this new situation in qualifying, you don’t want to do that every year. That’s a pretty big grind.”

It was a win three nations could celebrate: The US victory not only resulted in an Olympic berth but also clinched an Olympic spot for Argentina and a quarterfinal spot for the

Czech Republic. The Czechs moved on despite losing earlier Monday to National Basketball Association MVP Giannis Antetokounmpo and Greece.

The Czech Republic grabbed the last place in the round of eight via a three-team, pointsdifferential tiebreaker over Greece and Brazil after they all went 3-2 in group play.

“It’s already been a dream,” Czech guard Tomas Satoransky said.

Greece defeated the Czech Republic, 84-77, in Shenzhen, an outcome that meant the US went into the Brazil game assured a spot in the quarters. All that was at stake was seeding and where it was going, either to nearby Dongguan by bus or back on a plane to Shanghai.

US Coach Gregg Popovich instructs Derrick White during their match against Brazil. AP

Get the bus ready. France, a 100-98 loser to Australia on Monday, awaits the US on Wednesday in the quarterfinals.

The only way to stay in the mix for gold now is to keep winning. That’s the approach the Americans— likening the World Cup feel to an NBA Finals feel— have carried throughout the tournament anyway.

“Pop talked about how this is June, this is June basketball,” US guard Joe Harris said. “That’s what our mentality has got to be like.”

Jaylen Brown scored 11 and Harrison Barnes added 10 for the US (5-0).

The US opened on a 14-7 run, then led by as many as eight late in the half—yet went into the break with only a 43-39 lead, unable to shake Brazil despite shooting 55 percent in the opening 20 minutes thanks largely to Walker and Turner. They were 9 for 11 in the half from the floor combined, while their teammates were 9 for 22.

Eventually, the Americans pulled away.

Marcus Smart’s buzzer-beating, hand-in-his-face three-pointer to beat the third quarter horn put the US up 11, and a 15-6 run to start the fourth—mostly by getting to the rim, including back-to-back scores by Barnes, and capped by a three-pointer from Walker— put the game away and gave the Americans an 83-62 lead with 5:50 left.

“For most of the game we played them tough,” Brazil forward Anderson Varejao said. “But in the end, we couldn’t keep up.” AP

Dane Fuglsang bags 1st Grand Tour stage victory

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ENA, Spain—Jakob Fuglsang of Denmark made a solo charge on the final climb to win the 16th stage of the Spanish Vuelta on Monday, while Primoz Roglic finished strong to increase his overall lead.

It was the first stage win in a Grand Tour race for Fuglsang, who finished 22 seconds in front of Tao Geoghegan Hart and 40 seconds ahead of Luis León Sánchez.

“To win a stage was one of my goals coming here, as well as helping the team and building my shape for the last part of the season. But one thing is to have a goal,

another thing is to achieve it. I’m super happy with this win,” Fuglsang said. “It’s been my best season ever. To win my first Grand Tour stage is really special.”

Roglic held on to the leader’s red jersey for the seventh straight day by fending off late attacks by his closest challengers, including Miguel Ángel López and Tadej Pogacar. They all finished nearly six minutes behind Fuglsang.

“It was a hard day with a long last climb.

And a good day for us in the end,” said Roglic, the former ski jumper from Slovenia. “I don’t fear the last stages, I’m looking forward to them. I’m

enjoying the race and so far it’s going really good for me and the team.”

Roglic added 23 seconds to his lead over veteran Spaniard Alejandro Valverde, who could not keep up on the final climb of the 144-kilometer stage that finished with a beyond-category summit at the Alto de la Cubilla.

Pogacar and López were nearly four minutes off the overall lead.

On Tuesday, riders get their last rest day before facing the decisive stretch of the threeweek Grand Tour race that finishes on Sunday in Madrid. AP

Perlas Spikers target repeat

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ANKO-PERLAS seeks a repeat but Petro Gazz goes all-out for a payback, guaranteeing a fierce duel as two of the league’s top teams begin their second round eliminations campaign in the Premier Volleyball League Season 3 Open Conference at the Filoil Flying V Centre in San Juan on Wednesday.

The Perlas Spikers subdued the Reinforced Conference champions in four when they first clashed last August 11 but the Angels are coming off an impressive four-game run to close out their first round stint, including a shutout win over title contender Motolite last Sunday as they posted identical 5-2 slates behind the Creamline Cool Smashers, who swept the first round.

BanKo-Perlas is also riding on a three-game roll, including a tough five-set escape over BaliPure last week, making their 6 p.m. showdown worth watching with the likes of Jeanette Panaga, Cherry Nunag, Jonah Sabete, Cai Baloaloa and setter Djanel Cheng going up against Dzi Gervacio, Kathy Bersola, Sue Roces and playmaker Jem Ferrer.

BanKo-Perlas, however, will surely miss the services of top hitter Nicole Tiamzon, who is in a Unesco forum in France as one of the country’s representatives.

Four teams, meanwhile, try to boost their respective first round eliminations bids with Motolite facing a skidding Choco Mucho at 2 p.m. and PacificTown-Army seeking to sustain its rebound against a struggling Air Force side at 4 p.m.

NETFEST WINNERS Members of Team Unified Tennis

Philippines pose after completing their sweep of the 14th Asian Tennis Federation 14-Under Series in Kuching in Sarawak, Malaysia, over the weekend. They are (from left) boys’ singles and doubles runner-up Exequiel Jucutan, girls singles and doubles champion Alexa Milliam, doubles titlist Marielle Jarata, UTP General Manager Jackie Tomacruz, boys’ singles champion and doubles runner-up Joewyn Pascua and boys’ doubles winner Andrei Jarata.

AL MENDOZA alsol47@yahoo.com

THAT’S ALL

Nadal’s US Open win worth $3.85M WHEN it comes to crafting classic wins in tennis Slams, you can count on Roger Federer of Switzerland, Novak Djokovic of Serbia and, yes, Rafael Nadal of Spain.

Easily, one of them could win the US Open.

You doubt that and you know nothing about greatness, about how legends are made.

But Federer met a fireball in Grigor Dimitrov of Bulgaria and bowed out but not without a fight.

Age must have crept through the 38-year-old

Federer’s guts as Dimitrov gutted out a grueling five-set win, 3-6, 6-4, 3-6, 6-4, 6-2, in a quarterfinal match that saw each player score six aces apiece.

While Federer practically displayed the stuff why he is the winningest Slam player today with 20 majors, Dimitrov proved he could stand his ground even against the best, surviving seven double faults to move to within two matches of winning his first Grand Slam.

But, alas, Dimitrov met his match in his next outing, dropping his semifinal battle in straight sets to Daniil Medvedev, 7-6(5), 6-4, 6-3.

The Russian juggernaut that he has become, Medvedev, in grabbing a Final slot for the first time in a major, simply injected in Dimitrov’s mind that he is currently the hottest player on the Tour this year.

Prior to his New York date, Medvedev finished

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LYCEUM LABORS AGAINST STUBBORN ARELLANO U UNIVERSITY of Perpetual Help’s Ericka Pascual matches the National Collegiate Athletic Association record in women’s 100 meters breast stroke of swimming with a time of one minute and 19.86 seconds at the Santa Rosa Sports Complex in Santa Rosa City, Laguna, over the weekend. Jose Rizal University’s Mary Christine Llorente set the record last season.

By Ramon Rafael Bonilla

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YCEUM of the Philippines University had to pull out everything from its bag of tricks to escape a gritty Arellano University, 93-90, in the National Collegiate Athletic Association Season 95 seniors’ basketball tournament on Tuesday at the Filoil Flying V Centre in San Juan City.

MIke Nzeusseu scored 23 points to shoulder the scoring load for the Pirates, but it was the Marcelino twins Jaycee and Jayvee who puffed energy in the thrilling finish to gift their team its seventh win against three losses.

“No matter how ugly the game was, we will take it,” Lyceum Coach Topex Robinson said.

San Bead expectedly remained clean with a 98-66 win over Emilio Aguinaldo College earlier on Tuesday.

Nzeusseu added nine rebounds and two blocks. Coming off the bench, Jaycee Marcelino scored 12 points with five rebounds and seven assists, while Jayvee added 10 points, three boards and three assists.

The Cameroonian big man kicked off the Pirates’ assault by scoring seven in the first quarter where they held a seven-point gap.

But the Chiefs quickly turned the tables around when Kent Salado anchored a 32-point salvo in the second period to build a 48-41 lead at the half.

Lyceum woke up in the third as the Marcelino

twins conspired to erect an 88-79 cushion with 2:38 left in the game.

But Salado wouldn’t let his team raise the white flag just yet and towed Arellano University to a 90-92 edge with 21 seconds left.

Mindanao swing worth watching.

Del Monte will host the next stop from September 18 to 21 while Davao takes its turn from October 2 to 5 for the ICTSI Apo Golf Invitational before the ICTSI-sponsored

Unfortunately, his last-second triple was off to the relief of the Pirates.

Salado had 21 points and seven assists, while Dariel Bayla and Archie Concepcion contributed 12 points apiece for Arellano University, which fell to 2-8 won-lost.

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OLEADERS Ateneo and University of Santo Tomas (UST) clash in an exciting match to break a tie for the lead in the University Athletic Association of the Philippines men’s basketball tournament on Wednesday at the Smart Araneta Coliseum.

As expected, the defending champion Blue Eagles surged to two

SPORTS EXECS ALL PRAISES FOR NEW CLARK CITY VENUES

I 16-strong national team in harness for 30th SEA Games obstacle sports

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HE Pilipinas Obstacle Sports Federation (POSF) has finalized a 16-strong lineup that will see action in the 30th Southeast Asian Games set from November 30 to December 11.

Atty. Alberto Agra, POSF president, bared on Tuesday the members of the obstacle sports team that will try to win all six gold medals in the Games set at the University of the Philippines Sunken Garden.

They are Kevin Pascua, Mark Rodelas, Sherwin Managil, Mervin Guarte, Jeffrey Reginio, Nathaniel Sanchez, Monolito Divina and Kyle Antolin in the men’s side, and Rochelle Suarez, Milky Mae Tejares, Sandi Abahan, Glorien Merisco, Kaizen de la Serna, Deanne Moncada, Klymille Rodriguez and Diana Buhler in the women’s division.

The six gold medals to be disputed in the sport that debuting in the SEA Games are the men’s and women’s individual 5-kilometer x 20 obstacles, men’s and women’s 100-meter x 10 obstacles and the 400-m x 12 obstacles team assist and team relay. second twice in Washington and Montreal on top of his victory in Cincinnati.

In other words, Medvedev more than deserved his Slam Finals slot as his groundstrokes are simply not those of a 23-year-old upstart’s but someone with almost a pedigree of a grizzled veteran’s.

But before we go to Medvedev’s heroic stand in the championship against Nadal, what happened to Djokovic?

Well, Djokovic retired after trailing Switzerland’s Stan Wawrinka, 6-4, 7-5, 2-1, in the Round of 16, complaining of a nagging shoulder injury.

It was a painful exit for the 16-time major winner Djokovic, who is the world No. 1 for over 260 weeks now in the Association of Tennis Professionals rankings.

And so, with the unceremonious exits of

The team will spend the next three months training at the world-class Pretty Huge Obstacles at SM Aura. They will train six days a week except Sundays, and will spend one full week for the next three months confined to quarters.

“That’s one full week for every month until the SEA Games,” said Moncada, who appeared in the Philippine Sportswriters Association Forum on Tuesday at the Amelie Hotel Manila along with teammate Glorien Merisco, Coach Edward Obiena and Judith Staples of team sponsor Luminox.

The other coaches are Raven Quan (supervising), Mark Parilla (obstacles), Ken Tan (strength and conditioning), Saul Sibayan (running) and Anj Borras (physiotherapy).

“We are doing everything in training. The aim is to win all six gold medals in the SEA Games,” Merisco told the forum presented by San Miguel Corp., Braska Restaurant, Amelie Hotel and the Philippine Amusement and Gaming Corp.

Federer and Djokovic, only Nadal of the game’s Big Three was left to carry the load.

And what a heavy load it was as Nadal was forced to toil for practically every point against Medvedev.

Ten years his junior, Nadal, 33, found Medvedev too tough to handle, needing the whole distance to prevail, 7-5, 6-3, 5-7, 4-6, 6-4, in a match lasting four minutes shy of the longest US Open battle of 4 hours and 54 minutes won in 2012 by Mats Wilander over Andy Murray.

In pocketing his 19th major to move to within just one of Federer’s all-time best of 20, Nadal flirted with tying the infamous record of Ted Schroeder, who lost the 1949 US Open after winning the first two sets.

“This victory means a lot and the way it happened, it was hard to control the nerves,” said Nadal, who took home a record $3.85 million.

MINDANAO SWING ON circuit winds up its 10th season at the South Pacific Golf and Leisure Estates, also in Davao, from October 9 to 12.

But Bayron, Mondilla and company also expect a fierce challenge from the rest of the 73-player field, including Ira Alido, former Phl Masters titlist Jerson Balasabas, Michael Bibat, Marvin Dumandan, Zanieboy Gialon, Keanu Jahns, Mars Pucay, Joenard Rates, Gerald Rosales and Rupert Zaragosa.

The young Alido, for one, is due for a breakthrough with the 18-year-old rising star vowing to come out stronger and a lot tougher after blowing his title bid at Aboitiz Invitational with a final round foldup.

Twenty-four foreign bets are also keen on spoiling the locals’ title bid in the 72-hole championship organized by Pilipinas Golf Tournaments Inc., all ready to duplicate young Korean Kim Joo-hyung’s title run here last year, including Thai Kammalas Namuangruk and Macedonia’s Peter Stojanovski.

Manila-based Dutch Guido Van der Valk also hopes to come up with a solid start to fuel his drive for a second leg win after topping the Club Filipino de Cebu Invitational of the four-leg Visayan swing last June.

Other foreign aces vying in the event, backed by Custom Clubmakers, Meralco, Champion, Summit Mineral Water, K&G Golf Apparel, BDO, Sharp, KZG, PLDT and MY Shokai Technology Inc., are Koreans Jeong Jooan and Choi Sangrog, Spain’s Rafa Culla, Greg Gonzalez and Riley Keagle of the US, Japanese Kanata Nakagawa, Ryui Hashimoto and Makoto Iwasaki, Scots Julian Hood and Ryan Hood, Aussie Jack Lane-Weston, Argentina’s Emilio Parodi and Brunei’s Aslimon Qawin.

Still, focus will be on the region’s leading players, majority of whom are seeking redemption from a series of failed bids, including Bayron, who missed the cut at Wack Wack, multititled Lascuña, who remained winless in two years, and Mondilla, who hopes to mark his return from a long layoff with a podium finish.

Blue Eagles vs Tigers in battle of unbeaten leaders

SAN BEDA’S Donald Tankoua (10) and JB Bahio (12) and Emilio Aguinaldo College’s JP Maguliano just couldn’t seem to control the ball. NONOY LACZA

THE Pilipinas Obstacle Sports Federation’s (from left) Edward Obiena, Glorien Merisco, Deanne Moncada and Judith Staples grace Tuesday’s forum. ROY DOMINGO

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HE Philippine Golf Tour (PGT) starts its grueling season-ending stretch down south on Wednesday with top guns from talent-rich Mindanao, led by the veterans and rising stars from Davao and Del Monte eager to dominate in the International Container Terminal Services Inc. (ICTSI) Pueblo de Oro Championship in Cagayan de Oro City.

Jay Bayron, Tony Lascuña, Jhonnel Ababa and Elmer Salvador along with Clyde Mondilla, Reymon Jaraula, Johvanie Abaño, Magno Arancon, Jelbert Gamolo and Noel Langamin set out for four days of battle of shotmaking and putting at the Pueblo de Oro layout expected to provide a different kind of challenge for the men of the tour coming off a punishing test at the tight Wack Wack East last week.

But dangers also lurk at Pueblo’s winding fair ways, menacing bunkers and deep ravines with the wind expected to add up to the challenge, making the title chase in the P2.5 million event kicking off a four-leg

NTERNATIONAL officials in athletics and swimming for the 30th South East Asian Games (SEA Games) lauded the world-class Athletics Stadium and Aquatics Center at the New Clark City—as well as the technology and equipment installed in the new facilities.

Ibrahim Fadil Naddeh, technical delegate for swimming for the SEA Games and secretary of the Swimming Technical Committee of Asian Amateur Swimming Federation, cited the quickness in the construction of the sports facilities in just 18 months.

“This took only one year and six months to complete from the time we started construction, and for me, this is Guinness Book of World Records [quality],” Naddeh said, adding that athletes could do “proper training and proper competition” with the Aquatics Center.

The Aquatics Center features a 10-lane competition pool, eight-lane training pool and a diving pool with a 5-meter maximum depth. National athletes who competed in the First Philippine Open Swimming Championships held last weekend described the pool as “fast.”

Valson Cuddikotta, international representative for athletics, said the Athletics Stadium is “advanced and has come out very well.”

“I only see mountains there when I came two years ago. But now, I see a world-class athletics venue,” Cuddikotta said. “If you have an opportunity, please visit the venue. It has come out so well....

And I must say they can conduct any event of the highest magnitude in this New Clark City stadium they have constructed.”

“The nerves were so high after having the match almost under control.”

It was his fourth US Open win, one short of equaling the five US titles of Federer, Jimmy Connors and Pete Sampras, in a strong follow-up to his 12th French Open victory in June.

But in defeat, there was no need for Medvedev to sulk as he came close to avenging his loss also to Nadal in Montreal only last month.

“A 19th Grand Slam title is something unbelievable, outrageous,” said Medvedev.

For one who has yet to win one, he has a point.

THAT’S IT In beating Serena Williams in straight sets to win the US Open women’s crown, Bianca Andreescu became the first Canadian to win a major. And, at only 19 years of age, she could easily be the future of women’s tennis.

quick wins. But the young Growling Tigers were as eager and went unblemished in two games courtesy of rookie Rhenz Abando.

They clash at 10:30 a.m. to kick off a three-game bill that also pits De La Salle (0-1) against National University (0-1) at 12:30 p.m. and Adamson University (1-1) against University of the East (0-2).

Nieto brothers Mike and Matt proved too deadly when Ateneo took down rival De La Salle, 81-69, last Sunday.

Mike had 18 points, while Matt added 15 to lead the onslaught in the first half. The Green Archers tried to mount some mini runs, but the Blue Eagles were tough to beat at endgame as Gian Mamuyac hit eight straight points in the fourth to seal the deal.

Coach Tab Baldwin believes that UST poses the biggest threat in the opening stretch of the season and defense would be a viable solution to neutralize the aggressive Tigers. Ramon Rafael Bonilla

Closed Champions League foiled by revolt vs elite clubs

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ENEVA—A revolt by European clubs has foiled plans by their wealthiest counterparts to turn the Champions League into a largely closed competition.

Juventus Chairman Andrea Agnelli and his European Club Association (ECA) leadership team has been forced to reset their expectations after failing to win support for a plan to steer the lucrative competition even more in favor of an elite group of elite teams.

Lower-ranking clubs made their voices heard in tense private meetings across Europe, suppressing a radical Champions League reinvention from 2024 that would have had profound implications for the intrigue of domestic competitions by largely severing qualification pathways but placating teams with more placed in a new third-tier competition.

Accounts of some of the small ECAorganized gatherings throughout August were provided to The Associated Press by people who spoke on condition of anonymity to discuss confidential matters.

By the time Agnelli addressed the ECA assembly in Geneva on Monday, there were signs he had reluctantly listened to less storied members.

“We have different views on formats and the stability principles,” Agnelli said, according to a Twitter posting by the ECA which blocked media access to a meeting attended by more than 150 clubs. “There is an overall acceptance that reform must happen in 2024-25.”

Agnelli had hoped to use this speech to build momentum for a decisive meeting on formats on Wednesday at UEFA with clubs that has now been taken away from them. But the AP revealed last month that UEFA President Aleksander Ceferin called off the talks after sensing they were not “ready for a meaningful discussion.”

Now the ECA is rebooting a process it hoped would have been resolved by December, with no firm plan after what has been described as a “vehement but constructive debate” with members by an ECA official.

The vision championed by Agnelli, presented by UEFA to its member federations and national leagues in May, would have guaranteed 24 out of 32 teams slots to return to the Champions League each season. Rather than the 32 being split across eight groups as they are now, there would be only four

divisions, providing more matches between the biggest teams.

Agnelli, a scion of the Fiat-owning family dynasty, sent out ECA General Secretary Michele Centenaro to sell the largely closed Champions League.

One soccer club executive recalled telling Centenaro in a meeting attended by more than a dozen clubs: “Why do you keep showing us this model? We don’t like it.”

Centenaro had been pleading with less illustrious clubs within the ECA to buy into a concept that would largely sever the pathway into European competitions based on finishing positions in domestic leagues or cups.

“It is not the objective of the whole vision to destroy domestic leagues,” Centenaro told the AP recently, when asked about the criticism.

Inevitably, a clique of the elite— Barcelona, Real Madrid, Bayern Munich, Paris Saint-Germain and, of course, Juventus—are firm advocates.

Splits emerged in France, Germany, Italy, and Spain, where the league champions advocate the ECA-championed revamp.

When the ECA gathered English member clubs in London last month, an attendee recalled how an executive from Arsenal pointed out the process had achieved something rare: Uniting the Premier League.

The moment was recalled by a person in the room who spoke on condition of anonymity to discuss the contents of the meeting.

A public joint statement from the 20 English topflight clubs after their annual meeting in June expressed unanimous opposition to “inappropriate” plans that would no longer leave them chasing the top 4 places to qualify for the Champions League or the next two to make the Europa League.

The wealth of the English Premier League—the world’s richest soccer competition—is used by the ECA to deepen a sense of jealousy, of being left behind.

Addressing a forum with around 15 clubs in Switzerland, Centenaro blamed the top 5 leagues—England, France, Germany, Italy, and Spain—for deepening financial disparities in the European game and enticing viewers away from domestic games elsewhere, according to the club executive in attendance. AP

Sports PROVING BusinessMirror

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| Wednesday, September 11, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

THE back-to-back victories have been the perfect response to critics who say Charles Leclerc is too young to drive for Ferrari. AP

CRITICS WRONG M

ONZA, Italy— Charles Leclerc was supposed to be Ferrari’s future star. Standing aloft on Monza’s iconic podium, above a sea of fans dressed in red, he was acclaimed as its current one.

Ferrari’s nine-year wait for a win at its home race was finally ended on Sunday, but not by four-time world champion Sebastian Vettel. It was Leclerc—11 years younger than Vettel and in only his second season in Formula One—who ended the drought.

The Italian Grand Prix victory was the second win in a row for the 21-year-old Leclerc, who is debuting with Ferrari this season after driving for Sauber as a rookie.

The back-to-back victories have been the perfect response to critics who said he was too young to drive for Ferrari.

“It feels good. It’s not been an easy start to the season, I’ve done a few mistakes,” Leclerc said. “I think I’ve grown a lot since the beginning of the season.

“I understood the critics of last year obviously me being too young because second year in Formula One and already in Ferrari it was early for sure. I can only thank Ferrari for believing in me. I’m very happy to have this kind of results, it shows that I was maybe more ready than what some people thought.”

Leclerc’s thrilling victory, where he held off the Mercedes onslaught of Valtteri Bottas and championship leader Lewis Hamilton, saw him leapfrog Vettel in the standings, moving 13 points ahead of his teammate.

He leads Vettel 4-1 in pole positions, and 7-0 in qualifying over the past seven races.

And while Leclerc was celebrating his second victory in a row, lapping up the adoration from thousands of

passionate Ferrari tifosi, Vettel cut a miserable figure after his disappointing season lurched to a fresh low at Monza.

The 32-year-old German driver made the latest in a string of mistakes on Sunday, and it was, perhaps, the worst of the lot.

Vettel, who had started from fourth on the grid, was putting pressure on Bottas when he lost control and spun going through the Ascari chicane on the sixth lap. To make things worse, Vettel returned to the track unsafely and entered the path of Lance Stroll, causing the Racing Point driver to spin.

Vettel was handed a 10-second stop-and-go penalty for dangerous driving. He was also handed three penalty points—bringing his total to nine in a 12-month period, just three from a race ban.

“Coming back I knew that there would be a gap but I struggled a little bit to get out,” Vettel said. “I was stuck on the grass, so I lost a bit of momentum and it took a bit longer, so certainly not ideal but I couldn’t see anything looking to the left.

“When I spun I saw there was quite a bit of a gap but obviously then you don’t start counting. I knew there would be cars coming but I thought I would be much quicker rejoining.”

Vettel, whose contract ends in 2020, finished 13th and—adding insult to injury—was lapped by Leclerc.

Vettel is now 22 races without a win. He is fourth in the championship, 115 points behind Hamilton. Vettel led and lost the past two championships to the British driver.

Mercedes team principal Toto Wolff has backed the German driver to return to form.

“Don’t write him off, because he’s a four-time world champion,” Wolff said. “The difference between the great ones and the good ones is that the great ones are able to get up again and I have no doubt that he can do that.

“He had a spell of bad races and now it will be about the ability to get himself back to where he deserves to be.

Today for sure is a bad day for him.” AP

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Loving God

EAR God, You chose Mary to bear Your Son Jesus, and at her life’s end You raised her body and soul to heaven.

In faith we pray: Hear us, oh God. Increase the strength of our souls and lead us to praise You always. Fashion Your Church into a living temple of Your Spirit. Heal those who suffer all affliction of mind, body or spirit. May all mothers attune to Mary’s ways in order to be closer to Jesus. Let us rejoice always in the loving care of Mary, the Bearer of the Eternal Word. Amen.

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

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

Life BusinessMirror

WOULD YOU BE MINE? TOM HANKS UNVEILS HIS MR. ROGERS AT FESTIVAL D3

Wednesday, September 11, 2019

D1

2019 HUAWEI ASIA PACIFIC INNOVATION DAY

Asia Pacific takes lead in race to 5G, the ‘foundation’ of the forthcoming ‘intelligent world’ HUAWEI Director of the Board and President of the Institute of Strategic Research William Xu delivers the opening speech at the recent 2019 Huawei Asia Pacific Innovation Day in China.

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By JT NIsay

HENGDU, China—The Asia Pacific region is heading the movement toward the era of 5G, the fifth-generation cellular network technology that will enable innovations touted to reshape society.

Global information and communications technology (ICT) and smart devices provider Huawei gathered more than 200 representatives across various sectors in the region to discuss innovative 5G technologies and applications, as well as the state of its adaptation, at the 2019 Huawei Asia Pacific Innovation Day held here.

“5G will serve as the foundation of an intelligent world and enable the connectivity of everything,” said William Xu, Huawei director of the board and president of the Institute of Strategic Research, during his opening speech at this year’s edition of the annual event, themed “Innovation Enables Asia-Pacific Digitization.”

With much greater bandwidth and lower latency than traditional wireless connections, 5G can lay the foundation for a more fully automated, intelligent future. Among the technological solutions to be unlocked by the next generation of mobile technology is Smart Healthcare, wherein faster online connection can enable remote yet precise consultations, as well as Smart Education and Smart Surveillance.

The 5G network also transforms end user experience. The higher speed of data transfer allows for video streaming in 8K quality without buffer, and console-quality mobile gaming without lag.

Moreover, the tested downlink rate of 5G is as high as 1 Gbps, enabling download of an HD movie in 1080P resolution in only two seconds.

At the forefront of the global adaption of 5G are Asia Pacific countries. South Korea, for one, has become the global benchmark for the technology’s commercial use with 2 million 5G subscribers since the network rollout in April. Meanwhile, China has built a large-scale 5G network for pilot commercial use, boasting of the world’s largest 5G airport and the world’s first 5G shopping mall.

The trend supports the report presented at the conference by global technology association GSMA Ltd. titled “5G Development and Innovation in Asia Pacific,” GSMA projects that 54 percent of the world’s 5G connections will be in Asia Pacific by 2025, with a user base of 675 million.

A total of 35 carriers in 20 countries around the world have launched 5G, while 33 other countries have distributed 5G spectrum. Huawei has signed over 50 5G commercial contracts worldwide. In the Philippines, Huawei and Globe launched in June a fixed wireless 5G services for home Internet, making the country second only to South Korea to offer such product in Asia.

The Chinese tech giant has also shipped over 200,000 Massive MIMO AUU units, the device used to accommodate various 5G deployment scenarios and make operators ready for 5G in advance based on 4G network.

FROM left: Franz Weber, head for branding and strategic planning, Nadine Lustre and GCash Chief Marketing Officer Chris Manguera

NADINE LUSTRE IS NEW GCASH ENDORSER

According to Xu, Huawei became an industry leader in 5G by investing in the technology early and deeply. The company started 5G research in 2009, just when 4G was just starting to see commercial deployment. To date, Huawei has already spent $4 billion for the technology.

“When we began 5G research, there were no standards to speak of. We essentially had to start from scratch; we couldn’t jump into product development right away,” he said. “In the beginning we focused on standards development and basic research in chips, materials and algorithms. This ongoing investment has helped us to stay ahead.”

Under Huawei’s so-called industry blueprint of an intelligent world released last year, called “Global Industry Vision 2025,” 5G network is set to cover 58 pecent of the world’s population in six years.

The report forecasts that massive demand for the technology will pave the way for the deployment of 6.5 million 5G base stations by 2025, with 2.8 billion 5G users around the world.

The speed with which 5G is seen to become universal will be unprecedented. It took a decade for the mass adaptation of 3G network, from 2001 to 2010, while 4G took five years, from 2009 to 2014.

5G network, however, is expected to take over in just three years, starting this year until 2022.

“4G changes lives, but 5G reshapes society,” said Yuhong Huang, research institute deputy general manager of China Mobile, the world’s largest mobile phone operator with total number of subscribers at over 900 million users.

Huang compared 5G network to an empty house, which needs emerging technologies, such as AI, IoT

and Big Data to give it warmth.

Sharing the same sentiment is Zhiqin Wang, vice president of the China Academy of Information and Communications Technology, who believes that 5G, combined with other technologies, will create synergy that will boost innovations.

She said 5G brings great hope, but challenges remain, which can be overcome by setting the right ecosystem in place. Government policies are as crucial, she added.

“Innovation is not enough. We need collaboration to digitize,” said Richie Peng, Huawei wireless network product line chief marketing officer. “There has to be collaboration with partners, customers and universities. This way, we can lay down the path for an intelligent world featuring 5G and cloud.”

During the conference, Xu, the Huawei Institute of Strategic Research president, addressed how the company plans to proceed in its mission to lead the global 5G revolution in the face of pressure from the US government, which has blocked the Chinese tech giant from buying components from US suppliers.

He said Huawei plans to keep its focus on strategic business by investing in technological solutions. Xu added that despite the controversy, business growth for the world’s No. 1 telecom supplier and No. 2 phone manufacturer remains robust, citing a 23-percent surge in 2019 half-year revenue.

“Our partners and customers trust Huawei’s products and solutions,” he said. “The company is confident and capable of maintaining business development, and supporting partners and customers achieve business success. Huawei adheres to openness, collaboration and shared success.” n

THE country’s favorite young artist and model Nadine Lustre is the new face of the Philippines’s leading mobile wallet, GCash.

The multi-awarded actress headlines GCash’s “What Can’t You Do?” campaign to power the dreams of young adults who constantly want to do more, expand possibilities and achieve beyond their own expectations.

“Nadine is the perfect fit for GCash because she represents the true aspirations of young adults, and is at that point in her life where taking charge of your finances is becoming more important. She shows how young adults can be independent and take charge of their own lives, and with the help of GCash, ‘What Can’t You Do?’ means so much more,” said Chris Manguera, chief marketing officer at Mynt, which runs GCash.

After starting out as a singer in a pop band, Lustre evolved to become a much-sought-after actress on TV, with her prime-time hits On The Wings of Love (2015) and Till I Met You (2016).

The 25-year-old actress has fared as well on the big screen, winning the Best Actress awards from Young Critics Circle, Famas Awards and the Gawad Urian Awards in 2019 for the hit movie Never Not Love You. Her latest film Indak, a dance musical, shows Lustre’s flexibility as an actress.

“She has built her brand and can create the image of a lifestyle that everyone will want to follow.

We hope for that to happen with GCash as well,” Manguera said. “We also want to activate her big fan base to help spread the word of financial inclusion and empowerment.”

Lustre, who was voted Artist of the Year and Favorite Female Artist at the Myx Music Awards 2019, is a social-media savant who has 6.8 million followers on Instagram.

GCash’s “What Can’t You Do?” campaign pushes the limits of what mobile phones can do for young adults with its innovative financial services accessible through mobile. With over 50,000 partner merchants and 20 million users, GCash remains the country’s leading mobile wallet.

Fitbit launches premium, voice-enabled Versa 2 HEALTHY living smartwatch brand Fitbit has announced the launch of Fitbit Versa 2, the next generation of its best-selling smartwatch line. Versa 2 delivers a new precision-crafted swimproof design, includes innovative sleep features like Sleep Score and smart wake, and is packed with even more advanced health, fitness and smart features to elevate every moment.

For next-level convenience, the watch debuts an on-device microphone, which enables Fitbit’s first-ever Amazon Alexa smartwatch experience, along with a Spotify app that allows users to control their music and podcasts. Coupled with even faster performance, thousands of apps and clock faces and a brighter, crisper display with an optional always-on mode, Versa 2 is your 24/7 health and wellness companion—now

with five-plus days of battery life at the same approachable price as Versa.

“At Fitbit, we believe that health belongs to everyone and people should not be priced out of having access to devices and features that can help them improve their health. That’s why we’ve designed Versa 2 to be a premium, full-featured and easy-to-use smartwatch at an accessible price point,” said James Park, cofounder and CEO of Fitbit. “Building on the success of our original best-selling Versa smartwatch, we believe the added value and innovation in Versa 2—with new features like Alexa, a Spotify app and advanced in-app and on-device sleep features—will bring more users into the smartwatch category, allowing them to unlock the benefits of better health.”

Now packed with more advanced features,

Versa 2 is also powered by a faster processor compared to Versa for better performance and seamless navigation. Plus, a larger AMOLED display delivers a superior experience with

boosted viewability and crisper color, and enables an optional always-on display mode, which boasts two-plus days of battery life so you can easily check the time and see your stats

during a workout without lifting your wrist or pressing a button.

Versa 2 is Fitbit’s most premium, modern smartwatch design, yet. It is precision-crafted with subtle material, finish and form updates, giving the smartwatch an elevated yet universal appeal. The watch is durable and water resistant up to 50 meters, yet lightweight and comfortable enough to wear all day and night with rounded edges and a curved case.

An anodized aluminum finish in a natural color palette gives a sophisticated, modern aesthetic to complement any style or look— and with the simplified one-button design, Versa 2 has a sleek silhouette reminiscent of a classic timepiece.

Additional information on Fitbit Versa 2 is available at www.fitbit.com.

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Pet Corner BusinessMirror

Wednesday, September 11, 2019

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Taraji P. Henson, 49; Harry Connick Jr., 52; Virginia Madsen, 58; Scott Patterson, 61.

HAPPY BIRTHDAY: Let the past be your barometer.

Don’t lose sight of what happened and who let you down. You have more options than you realize. Be clear when it comes to what you want and who you want to associate with. Choose wisely, and the changes that occur will bring you the rewards you desire. Your lucky numbers are 5, 18, 21, 28, 36, 42, 49.

a

ARIES (March 21-April 19): Don’t let emotions get in the way. Size up what’s at stake and how much you can accomplish. If you stay focused on what’s important instead giving a playby-play account of what you are doing, you will avoid unnecessary interference. HHH

b

How old is my pet in dog years or cat years? A veterinarian explains

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By Jesse Grady Mississippi State University

UST how old do you think my dog is in dog years?” is a question I hear on a regular basis. People love to anthropomorphize pets, attributing human characteristics to them.

And most of us want to extend our animal friends’ healthy lives for as long as possible.

It may seem like sort of a silly thing to ponder, born out of owners’ love for their pets and the humananimal bond between them. But determining a pet’s “real” age is actually important because it helps veterinarians like me recommend life stage-specific health care for our animal patients.

There’s an old myth that one regular year is like seven years for dogs and cats. There’s a bit of logic behind it. People observed that with optimal health care, an average-sized, medium dog would on average live one-seventh as long as its human owner—and so the seven “dog years” for every “human year” equation was born.

Not every dog is “average-sized” though so this seven-year rule was an oversimplification from the start. Dogs and cats age differently not just from people but also from each other, based partly on breed characteristics and size.

Bigger animals tend to have shorter life spans than smaller ones do. While cats vary little in size, the

size and life expectancy of dogs can vary greatly— think a Chihuahua versus a Great Dane. Human life expectancy has changed over the years. And vets are now able to provide far superior medical care to pets than we could even a decade ago. So now we use a better methodology to define just how old rule of thumb that counted every calendar year as seven “animal years.”

Based on the American Animal Hospital Association Canine Life Stages Guidelines, today’s vets divide dogs into six categories: puppy, junior, adult, mature, senior and geriatric. Life stages are a more practical way to think about age than assigning a single number; even human health recommendations are based on developmental stage rather than exactly how old you are in years.

Dog breed and its associated size is one of the largest contributors to life expectancy, with nutrition and associated weight likely being the next most important factors for individual dogs.

But this still doesn’t answer the question of how old your individual animal is. If you’re determined to figure out if Max would be graduating from high school or preparing for retirement based on how many “dog years” he’s lived, these life stages can help. Lining up canine and human developmental milestones over the course of an average life expectancy can provide a rough comparison.

In a similar manner, the joint American Association

of Feline Practitioners-The American Animal Hospital Association Feline Life Stage Guidelines also divide cats into six categories: kitten, junior, prime, mature, senior and geriatric. Since most healthy cats are around the same size, there’s less variability in their age at each life stage.

Figuring out how old Buddy is in dog years or Fluffy is in cat years allows a veterinarian to determine their life stage. And that’s important because it suggests what life stage-specific health care the animal might need to prolong not just its life, but also its quality of life.

Physicians already apply this very concept to human age-specific health screenings. Just like a normal human toddler doesn’t need a colonoscopy, a normal puppy doesn’t need its thyroid levels checked.

An adult woman likely needs a regular mammogram, just like an adult cat needs annual intestinal parasite screenings. Of course these guidelines are augmented based on a physician’s or veterinarian’s examination of the human or animal patient.

And as is the case for people, your pet’s overall health status can influence their real age for better or for worse. So next time you take your pet to the veterinarian, talk about your animal’s life stage and find out what health recommendations come with it. Watching out for health abnormalities and maintaining a healthy weight could help your cat live long past the literal “prime” of its life. AP

Skechers has helped save dogs, cats in the US through donations MANHATTAN BEACH, California—Footwear brand Skechers announced recently that it has donated more than $4.23 million to animal welfare organizations through its Bobs for Dogs and Bobs for Cats collections.

Since 2014, the funds have helped more than 750,000 pets in the United States, which includes more than 396,000 dogs and cats saved through adoptions.

Since Skechers’ partnership with Petco Foundation began in January 2019, the company has helped save more than 155,000 animals, a new lifesaving record for the Bobs for Dogs brand.

Through more than $830,000 in donations to Petco Foundation, the company has supported more than 63,500 animal adoptions at local shelters and rescues

nationwide, over 86,900 adoptions at Petco stores, community-wide adoption events that have found loving homes for more than 5,000 pets, and more than 11,000 spay and neuter surgeries.

“We are thrilled and inspired to see how substantial an impact our collaboration with Petco Foundation has had in such a short period of time,” said Michael Greenberg, president of Skechers. “It’s really thanks to all of our consumers, their impassioned commitment to our shared cause—and all of the creative ways that we have built our partnership with Petco Foundation to make a greater difference.”

Through its collaboration, Skechers and Petco Foundation have employed a wide range of donation-raising strategies to

advance the animal life-saving movement: promoting Bobs for Dogs’ popular shelter pet styles and cartooned animal mosaic casuals; expanding its animal-themed casual and sleepwear collections; and coordinating Petco-exclusive pet accessories with Bobs shoes at Petco locations in the US—the most successful product that the pet company has ever carried for people at its stores. The partners are also looking to expand this successful charity strategy to Canada in 2020 in support of the thousands of shelter pets in need throughout the country. “Skechers is unique because the company has the ambition of a strategic global brand and the heart of a nonprofit charity organization,” said Susanne Kogut, president of the Petco Foundation.

“Since the beginning, they’ve shown a strong interest in hitting the ground giving and making a difference in new, impactful ways. We’re excited to pursue new lifesaving records this year and hope to save more shelter pets than ever with their continued support.”

For each pair of specially packaged Bobs shoes and apparel sold online and in retail stores throughout the US, and coordinating Bobs shoes and pet accessories sold at Petco.com and select Petco stores nationwide, 25 cents is donated to the Petco Foundation to help animal welfare and rescue organizations save and support shelter pets across the US. More information is available at www.

Bobsfromskechers.com. BUSINESS WIRE

TAURUS (April 20-May 20): Listen, compare and be willing to make reasonable changes. An emotional situation will arise with one of your peers if you share too much personal information. Look for options that won’t jeopardize your reputation or make you feel uncomfortable. HHH

c

GEMINI (May 21-June 20): Cover all aspects of a situation necessary to ensure you do a decent job. Observe what others are doing and avoid letting anyone tamper with your affairs. A change will turn into a learning experience. Be careful what you wish for. HHHHH

d

CANCER (June 21-July 22): Take time to figure out how you can make things better at home. A look at your relationships with loved ones will help you redefine how you restructure your everyday routine. Accommodating someone you love will pay off. HH

e

LEO (July 23-Aug. 22): Take a close look at your relationships with others, and consider who brings out the best in you and who doesn’t. Draw the line with anyone who is unpredictable or urges you to make poor choices. Be honest and cut ties. HHHH

f

VIRGO (Aug. 23-Sept. 22): Don’t hesitate to make subtle changes to the way you look or how you live. Doing your most to be your best will make an impression and attract people eager to work alongside you. Romance is highlighted. HHH

g

LIBRA (Sept. 23-Oct. 22): Keeping up shouldn’t be your concern. Do what feels comfortable and suits your budget. Letting someone else’s expectations be your guide will lead to disappointment. Satisfy your needs and set goals that are reasonable, and satisfaction will be yours. HHH

h

SCORPIO (Oct. 23-Nov. 21): Put greater emphasis on how you feel, and fit better health and diet practices into your everyday routine. If you look and feel your best, it will encourage you to do your own thing.HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Watch what others do and listen to what they say.

Someone will misinterpret or lead you astray, causing conflict with a friend, relative or peer. Don’t let emotions intervene in your communication. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): Avoid getting into heated discussions that can cause unwanted personal change. Stay focused on your personal papers, finances and legal matters.

Refuse to let an emotional plea sway you from doing what’s right. Stick to the script you prepared. HH

k

AQUARIUS (Jan. 20-Feb. 18): Don’t show anger or act impulsively when dealing with joint ventures. Protect against insult or injury and focus on positive change that will bring you greater stability. Take time out to rejuvenate and to rethink the best way to move forward. HHHHH

l

PISCES (Feb. 19-March 20): A financial gain looks promising. Make personal changes that will offset some of the problems or situations you want to put behind you. Use your imagination, and you will come up with an idea that will lead to success. HHH BIRTHDAY BABY: You are hardworking, diligent and ambitious.

You are creative and persuasive.

‘in the right place’ BY JOHN GUZZETTA The Universal Crossword/Edited by David Steinberg

ACROSS 1 ___ Speaker 6 One may be first, middle or last 10 Roster 14 Historic Texas mission 15 Electric guitars plug into them 16 Rotten tomatoes, for a tough crowd 17 Part of a bicameral legislature 19 “Once ___ a time...”

20 Just-add-a-zero multiplier 21 Turns down, as lighting 22 Barbarian 23 Spot for a picture?

26 Longing 29 Alleviates 30 Circle segments 31 Prized violin 33 Quarterback Manning 36 Exclusive airplane area 40 Horned Frogs of the Big 12 Conf.

41 Member of a pod 42 Emulate the Big Bad Wolf 43 Prickly plant 45 Seek divine help from 47 Lickety-split

1 Borscht and gazpacho 5 52 Legal claim 53 Bro’s counterpart 56 Kingly address 57 Cry of relief after a long drive, or a description of 17-, 23-, 36- and 47-Across 60 Khrushchev’s country: Abbr.

61 “___ and out!”

62 Spooky 63 Idaho spots?

64 Cautious 65 Belief in a non-intervening God DOWN 1 Milkshake type 2 Succulent hidden in “Lisa Loeb” 3 Sunup 4 Black church letters 5 Realm of Sauron in The Lord of the Rings 6 Tennis champion Osaka 7 Tickle 8 Law enforcers on base: Abbr.

9 Tongue suffix 10 Golden Globe winner Hugh

1 Candy in the checkout aisle, say 1 12 Struck down, biblically 13 Copier supply 18 Place with hexagonal cells 22 Simple 23 Hit’s opposite 24 Poke fun at 25 “Confound it!”

26 ___ Punk (“Get Lucky” duo) 27 Politico Swalwell 28 Operating room figure 31 It’s set before bed 32 Prefix with “ware” or “practice” 34 Hoist 35 Deets 37 Silly people 38 ___ latte 39 At the drop of ___ 44 Some rodeo contestants 45 No contest, for one 46 Went on a tirade 47 Thing on a newsstand 48 Loud 49 ___ Fudd 50 Impassioned

3 Indian garment 5 54 Wife of Osiris 55 Pipe part clenched in the teeth 57 Anagram of “who” 58 Latin for “eggs” 59 Stan who cocreated Ant-Man

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, September 11, 2019

BLIND SPOT BRUCE C.

BENEATH HER

SHE is one of the best young actresses of her generation with a fan base that is solid and loyal.

But the young actress also has some attitude, not all of it good. She refuses to do mall shows in the provinces, claiming the people there are not her market. The young actress believes that her market includes only young urbanites. She has turned down so many projects because she sees many things as beneath her. The young actress doesn’t realize that her management has pulled her out of a big project just to teach her a lesson or two in humility. The thing is, the young actress does have talent in acting, singing and dancing. She just needs to improve the way she views things.

NEVER LEARNS

THE musician has had a colorful personal and professional life. He has been involved with so many women, some of them minors even, and has fathered several children. You would think that by this time, he has learned his lesson and would have tried to be a better person. The answer is no. He has been involved with a woman who is sort of working in show business, too. If you check the woman’s Instagram posts, you’ll see that she claims to have been abused by someone she loves and that the abuse has not just been physical. Based on the woman’s post, the abuse has been going on for some time now. It remains to be seen whether the woman will want to continue with the relationship. It’s too bad that the guy will surely find another victim if and when the woman decides to leave him.

THE CURSE

SO this doctor to celebrities has had a relatively successful practice. Her client list continues to grow and the products she offers are quite effective. What many don’t know is that the doctor’s business would be even bigger if she had not left her husband for an actor who is now a has-been. The actor milked the doctor for nearly everything she had so after he left, it was like she was starting over again. The actor is like a curse to women who have fallen for his charms. They love him so much that they forget themselves and just live to please him. The actor has a penchant for rich and lonely women. Clue: He is no longer active in show business but he has been in a lot of good projects for TV and film.

HAPPY GO LUCKY

MANY are wondering why the actress and her boyfriend, who is not in the entertainment business, broke up. They seemed so much in love and the boyfriend, who is very, very rich, was always supportive of the actress. Well, the thing is that he grew tired of her very laidback ways, meaning he didn’t want to party, drink and do drugs. These are the three things that the actress likes doing. She loves the rock-and-roll lifestyle as she is also a musician of sorts. The boyfriend wanted love, marriage, kids and a more stable lifestyle. The actress isn’t ready and they had to say goodbye.

Would you be mine?

Tom Hanks unveils his Mr. Rogers at festival

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By Jake Coyle The Associated Press

EW YORK—Ever since it was first announced, the idea of Tom Hanks playing Mr. Rogers has seemed like dream casting, a match as snug as a warm zip-up sweater.

A Beautiful Day in the Neighborhood, starring Hanks as the host of Mister Rogers Neighborhood, premiered Saturday night at the Toronto International Film Festival, revealing a nuanced and layered performance by Hanks that goes well beyond the cardigan. The film, which will open in theaters November 22, isn’t a Fred Rogers biopic but dramatizes the true story of magazine journalist (Matthew Rhys, playing a fictionalized version of writer Tom Junod) who went to Pittsburgh to profile Rogers for Esquire magazine.

Directed by Marielle Heller (The Diary of a Teenage Girl), A Beautiful Day in the Neighborhood focuses on how an encounter with the hypersensitive, open-hearted Rogers transformed the cynical New York reporter.

Hanks’s performance is only a part of the drama, but his gentle, whole-body transformation into Rogers drew thunderous applause from festival audiences and rave reviews from critics. “Hanks isn’t just good— he’s transporting,” wrote Variety.

“We never make fun of Fred. We slow down to listen to him,” Hanks said following the film’s screening. “It was always going to be, I think, deconstructing the myth of it to show he was a regular guy who went out for Chinese food. At the same time, there is this mystery. What’s his motivation?”

“One of the most wonderful things, too, is he was actually an ordained minister who never mentioned God on his show,” Hanks said.

Heller, whose Can You Ever Forgive Me? earlier this year garnered Oscar nominations for its leads (Melissa McCarthy, Richard E. Grant), questioned the idea that Hanks—“America’s Dad”—was so naturally suited the part of Rogers. “I do think there’s this kind of thing that happens where everyone goes, ‘Oh yeah, I love Tom Hanks. I love Mr. Rogers. This makes perfect sense,’” Heller said. “That’s not an easy performance to give. That’s not something that Tom just walks in and puts on a sweater. That is an incredibly raw and vulnerable performance.”

The life of Rogers, who died at age 74 in 2003, was last year chronicled in the documentary Won’t You Be My Neighbor—a film Hanks cited as part of his extensive research watching tapes of Rogers. With $12.4 million in ticket sales, it was the year’s highestgrossing documentary, and its success suggested a widespread desire many feel to reconnect with

Rogers. “There’s a reason that everybody feels so connected to him right now. I don’t know. Some collective consciousness thing where we all want Mr. Rogers in our life right now, myself included,” Heller said in an interview. “I don’t know if I could have pinpointed what that was when I started out on this journey. But the world feels pretty desolate right now and divided and angry.”

The role could have easily tipped into saintly reverence, something Heller and Hanks were urged to avoid by Rogers’s wife, Joanna Rogers. Her husband’s altruism, she maintained, was hard work and not easily divined. Hanks said he regretted not absorbing Rogers’s teachings earlier.

“I wish that when my son was three years old that he and I sat down and watched half an hour of Mr. Rogers a week,” said Hanks. “I would have better understood the role of a parent in saying to their children: ‘It’s all right if you’re sad.’”

The 63-year-old actor added, though, that his wife, Rita Wilson, is less enamored with how he has adopted the sayings and songs of Rogers.

“When my wife and I get into it, and when we’re done with whatever subject matter got us all heated up,” Hanks said, “I’m now driving her insane because I sing: ‘It’s good to talk/ It’s good to share the things we feel/ It’s good to talk.’” n

CCP GIVES BACK WITH AFFORDABLE TICKETS FOR 50TH ANNIVERSARY’S PEOPLE’S GALA

ALL HAIL ‘THE KING’ THIS SEASON

HAL, the wayward prince and reluctant heir to the English throne, has turned his back on royal life and is living among the people. But when his tyrannical father dies, Hal is crowned King Henry V and is forced to embrace the life he had previously tried to escape. Now the young king must navigate the palace politics, chaos and war his father left behind, and the emotional strings of his past life—including his relationship with his closest friend and mentor, the aging alcoholic knight, John Falstaff.

Streaming soon on Netflix, The King stars Timothée Chalamet in the title role, Joel Edgerton, Sean Harris, LilyRose Depp with Robert Pattinson and Ben Mendelsohn, written by David Michôd and Joel Edgerton, and directed

by Michôd.

WHERE can your P100 or P50 take you?

It can give you a night to remember when you buy a Balcony 1 or Balcony II ticket for the Bulawan: CCP 50th Anniversary Concert, happening on September 21, 8 pm, at the Tanghalang Nicanor Abelardo (CCP Main Theater).

As a way of giving back to the Filipino people who have supported the Cultural Center of the Philippines throughout the past 50 years, the country’s premier art institution will make the Balcony 1 and Balcony II tickets of the People’s Gala affordable, for P100 and P50, respectively.

With that ticket, you can enjoy a West End experience with theater actress Joanna Ampil or listen to virtuoso music by renowned pianist Raul Sunico. Get inspired as Ballet Philippines alumnus Candice Adea, with her fellow dancer from West Australian Ballet Julio Blanes, take the art of dance on the stage.

Experience operatic arias with soprano Rachelle Gerodias, or groove with contemporary artists Poppert Bernadas, Gian Magdangal and Lara Maigue as they bring rhythm and melody fit for every kind of audience.

Veteran actors Celeste Legaspi, Nonie Buencamino, Shamaine Buencamino, Audie Gemora and Monique Wilson will share their artistic talents in a series of performances.

With composer-director Jerrold Tarrog and editor Chuck Gutierrez, there will be a Cinemalaya segment paying homage to the golden years of Philippine cinema.

Directed by award-winning director Loy Arcenas, the People’s Gala features artists who have been part of CCP in the past 50 years, including the resident companies, namely, Ballet Philippines, Philippine Ballet Theatre, Philippine Philharmonic Orchestra, Tanghalang Pilipino,

Bayanihan Philippine National Folk Dance Co., Ramon Obusan Folkloric Group, UST Symphony Orchestra, National Music Competitions for Young Artists Foundation Inc., and the Philippine Madrigal Singers.

The creative team for the CCP gala includes Katsch Catoy for lighting design, GA Fallarme for video projections, Dennis Marasigan for the script, Aji Manalo for sound engineering and Barbie Tan-Tiongco for technical direction.

PPO principal conductor and musical director Maestro

Yoshikazu Fukumura and resident conductor Herminigildo Ranera will take the baton; while Mark Anthony Carpio will serve as musical consultant and choral conductor.

The Bulawan concert kicks off the yearlong celebration for the CCP’s golden anniversary. Expect various activities and other events, happening from September 2019 to September 2020, at affordable prices or even for free.

More information is available at 832-3704 or www. culturalcenter.gov.ph.

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Wednesday, September 11, 2019

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When to say NO SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

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N the early part of my career, I said yes to almost anything. I took on new assignments and new responsibilities which I initially thought were small favors and but surprisingly became part of my daily tasks. I took on those new assignments knowing I would learn and acquire new skills and, hopefully, become promoted in the long run. But things changed when I noticed I was being asked to do more than I should and I had less and less time for my main tasks. I realized I was being given more tasks because I was faster at doing them. I slowly switched focus and said no more often to tasks which were not my main concerns. I learned to say no by becoming busier with those tasks which had a positive impact in my career than be caught in undertakings which had no direct bearing on my professional development.

Just like in most organizations, there is a tendency that the performers are the ones laden with more tasks because they can do more. You would know this because you have the same position and title with others and yet you are given more tasks and responsibilities without anything in return—be it a promotion, a salary increase, or even just a pat on the back. And when you realize that you are given more than you should be taking, you have to learn how to say no.

To be able to say no, understand the motivation behind the request. They may be asking you to do it because they have to do a more urgent task, or they just want to get out of doing a paper-pushing work.

Either way, you have to think in terms of what’s in it for you. That said, you also do not want to be perceived as someone who wants to do things for other people only for personal gain. Accept requests from time to time to develop good working relationships, but a big mistake would be to accept a task when it is clearly somebody else’s concern. You can offer to assist and possibly do a part of it but you need to step back and let them do their work.

REINVENT YOURSELF FROM COUCH POTATO TO FITNESS BUFF

NOWADAYS, lifting weights and pumping iron just don’t cut it anymore. As people become more conscious of their fitness, they are also looking for exciting ways to train and to experience working out like an elite athlete.

Fitness centers are now taking the game to the next level by integrating exciting concepts, features, programs and facilities that can cater to all types of fitness and athletic experience.

One facility that stands out right now can be found at the heart of Vermosa, a mixed-use estate in Cavite: Santé Fitness Lab (SFL), a fitness and performance hub that offers innovative fitness programs for professional and everyday athletes, with services like sports rehabilitation and performance testings.

What sets SFL further is its unique approach ensuring that its facilities and equipment promote functional fitness. “Here, humans work as the ‘machines’ and so, our fitness programs do not rely much on big equipment,” said Clarize Lucindo, SFL general manager.

Their functional fitness exercises aim to train your muscles to work together and prepare them for daily tasks as it simulates common movements you might do at home, at work, or in sports.

“So, whether it’s carrying a stack of papers across the floor, sprinting for the elevator, or changing the office water cooler, anyone enrolled in our fitness programs can be fit to perform their daily tasks with ease,” added Lucindo.

At par with the country’s premium fitness brands, SFL’s top-notch equipment, such as its Olympic barbells, platforms, manual treadmill, cable machines, rowers, free weights, as well as speed and agility tools, are all of highgrade standards to complement all your needs for your training goals. All of these are highlighted in an expansive functional fitness area with turf, where they also conduct their classes.

More information about Santé Fitness Lab can be found at www.santefitnesslab.com.

This happened to me a few weeks ago when I was asked to do a project which was clearly beyond my scope. I raised the issue to my direct supervisor who then talked to the people involved, and we sat down and worked together to come up with a workable solution. My direct supervisor acknowledged it was beyond my scope but also made it clear to the other manager it was their task. I offered to assist and we were able to come up with a good approach for the project. I did not directly say no, but I provided a way where I can still help without being a major player in the project because I know it is not within my purview.

There are instances when you can say no without actually having to say the word, like what happened to me another time. But there are instances when you just have to flat-out say no because they fall short of the requirements for a viable project. I received recently a request for creating training materials for only 11 people and they wanted the material to be gamified and interactive, all of which would take roughly six to eight weeks to develop and involve two developers. I flatly denied the request because the cost of creating the material far outweighed the benefits for just 11 people. I had to deny the request and refer them to my supervisor for approval should they feel they have a business case to develop the content.

Understanding what your job entails and your scope can greatly help you in being able to say no.

This, of course, becomes doubly more difficult when your supervisor asks you to do more than what you can actually do. One tip I learned from a good friend is to put the matter back to my supervisor.

When inundated by tasks, talk to your supervisor and tell them the tasks you are doing and ask which one you should prioritize. And when they tell you which one, tell them the timeline for each of the tasks. This is to let them understand where you currently are in your tasks and when to expect the results. Keep them updated so that when they give you new tasks, you can refer them back to your task lists and ask them to choose which one is more urgent. This way, you do not have to say no directly because you are simply making them prioritize your tasks.

Another way of saying no is to refer people to others who can also help. One time, we created an infomercial to promote a new process and it was so well-received that the president of the company asked us to create a video for a summit he was going to present to. We gladly took it as affirmation of our work and went on to create the video for him. It took a toll on two of my developers because of the revision requests from multiple stakeholders and the strict branding guidelines we had to follow. In the end, it took an additional two weeks to develop the content. We realized we could have avoided the entire thing had we engaged the branding team to create the video rather than taking it on ourselves. It would have lessened the back and forth revisions and I could have freed up my developers for projects more aligned with what my team was supposed to be doing.

While being commended for a job well done has its merits, referring them to a team who knows more about the requirements can help in maintaining your reputation and help you say no willingly.

Understanding your priorities will also help you say no. Warren Buffett is known for this powerful

Understanding your priorities will also help you to say no. Warren Buffett is known for this powerful quote: “The difference between successful people and really successful people is that really successful people say no to almost everything.” It all boils down to priorities and what you deem to be the most important— whether in your personal or professional life. quote: “The difference between successful people and really successful people is that really successful people say no to almost everything.” It all boils down to priorities and what you deem to be the most important—whether in your personal or professional life. I know of a very loving man who would not take out-of-town trips or business engagements because he would rather spend time with his loved one. He knows

his priority and would go out of his way to make sure he achieves it and he is able to maintain a loving relationship. To borrow a phrase from organizing guru and author Marie Kondo, understanding what sparks your joy and following your passions will help you say no easily without regret. It will also help in ensuring that you are reliable for the tasks you are responsible for. n

Insular Life enters Lazada

By PaUlINe Joy M. GUTIerreZ FILIPINO insurance firm Insular Life enters e-commerce platform Lazada in an effort to reach unbanked Filipinos and streamline the sales channel of its InLife Protect Plans.

Insular Life President and CEO Mona Lisa de la Cruz in a recent media briefing said that the partnership presents a lot of opportunities to increase the insurance penetration among the lower-middle income and middle-class segments in the country.

“Taking charge in life isn’t just about buying material things—expensive gadgets, clothes, shoes, makeup—for yourself. It’s about looking beyond your wishes and thinking about your family when certain eventualities happen,” she said.

“It’s also about making sure you have lifeinsurance protection from natural and accidental death, as well as funds to cover emergencies such as hospital expenses, so you can free your family from financial burden if something untoward happens.”

The basic insurance plan the company offers is InLife Protect (bit.ly/2KOF3p3), which starts at P400, while InLife Protect Plus (bit.ly/2Kyp0wI) is at P500. Both provide benefits upon death due to natural or accidental causes and daily allowance for hospitalization due to injury, as well as disability benefits.

In addition, the InLife Premium Protect (bit. ly/2YZbo5S) and InLife Premium Protect Plus (bit. ly/2KKk7j6), priced at P1,100 to P1,200, respectively, provide benefits upon death due to natural or accidental causes, including a daily allowance for hospitalization due to injury or sickness. The InLife Protect plans are good for one-year coverage and are offered exclusively to eligible Lazada members who

FROM left: Lazada Philippines Head of Goods Bernadette Moldez, Insular Life Executive Chairman Nina Aguas, Lazada Philippines CEO Ray Alimurung, Insular Life President and CEO Mona Lisa de la Cruz, and InLife SVP and Chief Marketing Officer Miriam Choa

reside in the Philippines, between 18 and 64 years old, and in good health at point of application.

“Aside from the principal insured members, we can also extend the protection to their family or dependents under the Shield product. Here we have four variants: Junior, Family, Parent and Legacy, wherein the member can insure his/her children and then his/her spouse and children. The third variant is for unmarried members who list down their parents as dependents. With the fourth variant, they can extend their protection to their parents as well as their children,” said Pam Capiz, Insular Life e-commerce specialist and senior manager.

She added that the company is targeting the low-

end market with affordable insurance products, then eventually introduce them to more comprehensive insurance plans: “This is still a pilot run to sort of test the appetite of the market, particularly those who cannot afford higher coverage plans.”

Similar to all other Lazada transactions, one-time premium payments may be made via credit card, debit card or Lazada e-Wallet, making it more accessible for shoppers.

“Lazada actually supplements our core distribution because sometimes, there are markets that agents or financial advisors cannot reach. InsularLife and Lazada hope to benefit this certain segment,” said Capiz.

BusinessMirror E1 | Wednesday, September 11, 2019 • Editor : Tet Andolong

BEVERLY Place Residential and Business Estates offers a safe, conducive community for aspiring individuals and growing families

Smart home investment for Kapampangans

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HE province of Pampanga continues to gain prominence and for a good reason.

Over the last couple of years, Pampanga has been attracting the attention of tourists and investors, not only for its unique culinary offerings but also because of its viability as an investment destination.

Rising from the devastating tragedy of the Mount Pinatubo eruption more than two decades ago, this province has since emerged as a major business hub with its special economic zone where various cottage industries and international corporations abound.

Add to that the benefits that Pampanga, along with the rest of Central Luzon, has been reaping from the government’s aggressive infrastructure program. Said agenda will soon see the opening of more major highways and new roads, as well as world-class air-

ports that will allow for an even more vibrant business landscape.

Such projects are expected to pave the way for a more seamless journey to and from Central and Northern Luzon, which is seen to eventually result in improved trade and better investment prospects.

Indeed, the continuing improvements of the North Luzon Expressway (Nlex), the Subic-Clark-Tarlac Expressway (SCTEx), and the Tarlac-Pangasinan-La Union Expressway (TPLEx) have opened the gates of opportunities and made the process of doing business in the area even more attractive.

“We have long seen the value of having a strong presence in Central and Northern Luzon as evident in the number of developments that we have in the region. Sta. Lucia

INVESTING in a home at Beverly Place Residential and Business Estates can be a wise investment for you

Land was one of the first national developers to bet big on the area and this is simply because we believe [in] the huge potential that it holds. And seeing the numerous infrastructure projects that the government has in its pipeline, we are confident that the region will continue to rise and become a strong growth corridor,” said Sta. Lucia Land Inc. President Exequiel Robles.

“With the ‘Build, Build, Build’ program of the government now

Housing must be exempted from VAT–Creba

By Roderick L. Abad @rodrik_28

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O help millions of overseas Filipino workers (OFWs) and low-income earners who have yet to completely own a home, housing purchases should be spared from the looming value-added tax (VAT) imposition come 2021 so that they can still fulfill it within their means, according to the Chamber of Real Estate & Builders’ Associations Inc. (Creba).

The largest group of Philippine real estate and housing developers has made this appeal to Congress, saying that the impending imposition of new taxes will hurt combined government and private-sector initiatives to address the housing backlog of around 6.57 million, not to mention new dwelling requirement of 300,000 units piling up annually.

Passed in December 2017, Republic Act 10693, or the Tax Reform for Acceleration and Inclusion (TRAIN law) recognized the demand of the housing sector by extending for another three years the effectivity of VATexemption thresholds of up to P1.9 million for lots only and P3.2 million for houses and lots last adjusted in 2011 in view of prevailing economic conditions and latest consumer price index. The cap slides down to as low as P2 million by January 2021.

Per Creba National Chairman Charlie A. V. Gorayeb, prices of low-cost housing will go up beyond affordability levels, thus further

P.A. PROPERTIES

marginalizing the homeless poor even if it is a main government role to provide housing for its citizens as a constitutional social right for it is a basic human need.

“VAT is a buyer’s tax which real-estate developers have no choice but to fully passon to homebuyers. And because a once-ina-lifetime housing purchase at the range of P3.2 million and below is usually availed of under long-term loan, the VAT burden is not a one-time impact,” he said.

Gorayeb cited, for instance, that the 12-percent VAT of P360,000 per unit for a housing unit sold at P3 million actually translates to P1 million over a 30-year mortgage life.

Creba National President Noel Toti M. Cariño underscored that since housing is globally

recognized for its economic multiplier effects, VAT imposition will negate its benefits and will only stifle the industry’s growth.

“Whatever estimated collection from the additional VAT on housing is not realizable as we expect a massive industry slowdown when buyers can no longer afford to buy and developers can no longer afford to build for lack of qualified takers,” he stressed.

Believing that the already heavily taxed and highly regulated housing industry must be spared from any new taxes, the two Creba officers asked lawmakers to preserve the status quo on VATable housing packages to give the millions of yet homeless citizens of the country an equal chance to a dignified quality of life through decent and affordable housing.

in full swing, we are sure to see a highly connected urban region, where various businesses and industries thrive. For our part, we will continue to create developments that individuals in the area can enjoy and benefit from. We will remain steadfast in our commitment to build and deliver projects that are built to last and could provide an improved quality of life,” Robles added.

One of Sta. Lucia Land’s notable projects in Pampanga is Beverly

Place Residences and Business Estates. Investors and residents are sure to benefit from the government’s ongoing projects in said region, including the opening of a new terminal in Clark by the middle of 2020. A two-hour drive from Manila, the development can be accessed via Nlex and is only a few minutes away from Clark Special Economic Zone and the Diosdado Macapagal International Airport.

But what truly makes Beverly Place a valuable, practical investment option is the fact that it is near key facilities and infrastructures like the Subic Seaport and the next big metropolis called the New Clark City, where the National Government Administrative Center and a new world-class sporting facility will be located. It also serves as a perfect jump-off point to many of Northern Luzon’s vacation hot spots which can be accessed via the SCTEx and TPLEx. Beverly Place is, likewise, situated at the center of Mexico, Pampanga’s manufacturing, commercial and business zone, and is just

beside SM Pampanga and near Robinsons Starmills. Not to mention the world-class features that residents and guests of Beverly Place Residential and Business Estates will get to enjoy: an 18-hole championship golf course, clubhouse, golfer’s lounge, function rooms, tennis court, basketball court and swimming pool. As a bonus, residents can expect to be treated with a glorious view of Pampanga’s Mount Arayat.

Indeed, Beverly Place Residential and Business Estates promise to be the most ideal place for you to live—to raise a family, work and play in peace.

“We hope that through our various developments, we will be able to better serve the needs of the Kapampangans who are in search of a truly valuable investment. With the continuous development of Beverly Place and the ongoing infrastructure developments in the region, we are sure to provide our investors and future homeowners the best property worth their hardearned money,” Robles concluded.

THE ARANETA CENTER CYBERPARK PUSHES FOR GREEN INITIATIVES

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NCOURAGED by the continued growth of the economy and optimism over the bright prospects of the outsourcing and offshoring industry, the Araneta Group has invested a combined P20 billion in the development of the Araneta Center Cyberpark, an office complex with state-of-the-art business facilities, and shopping, dining and leisure choices. And businesses are taking notice.

In the midst of a thriving community, this new office complex marries technological marvel with leisure and lifestyle choices, highlighted by a convergence of public spaces and private workplaces with large floor plates.

One of the largest information technology districts in the Metro, the Peza-certified Cyberpark complex will comprise five stateof-the-art towers in its 8-hectare location with a combined floor area of over 500,000 square meters (sq m).

More important, the Cyberpark complex has become the key to the Araneta Group’s investment in green initiatives and renewable-energy solutions. As more institutions and companies become increasingly aware of their impact to the environment, the Araneta Group is working toward environmentally responsible developments.

The group recently announced a step-up in their partnership with Meralco to install a solar plant on the roof deck of Cyberpark 1.

To be installed by Spectrum, Meralco’s wholly owned Solar and Renewable Energy Solutions subsidiary, the solar plant will utilize 384 Sunpower panels with a Power class of 395W per panel, the latest Performance Series model

THE multibillion-peso project that has given rise to a new business district in the heart of Quezon City champions sustainability within the newest, most-coveted Peza-certified business address in Metro Manila.

of Sunpower. It will also utilize 2 units of Huawei 60-kW inverters, best in class with 4 Maximum Power Point Trackers and lowest maintenance cost with its Environmental Cooling System. The system is also rated to withstand 250-kph wind speeds to enhance survivability versus typhoons.

Cyberpark 3 soon to rise

ANOTHER 33-story office building, Cyberpark 3, will soon begin construction in the Cyberpark complex. Pushing forward with the company’s green initiatives, the tower will also be fitted with energy efficient double glazed windows and a rainwater collection system, among others.

With 27 levels of office spaces, three

floors of parking, and two floors of retail space at ground level like its two predecessor, Cyberpark 3 answers the pressing need for companies and locators who are looking for a better atmosphere for business growth, and a solution to cramped office spaces and worsening traffic conditions in other CBDs. Cyberpark 3 will offer large floor plates, typically 2,500 sq m., and highlighted by floor-to-ceiling windows. It has interiors of massive open spaces that can be adapted to company needs. With top-of-the-line facilities like the Smart Elevator System, employees can work in relaxing, well-equipped offices that boost performance and productivity. The planned inter-connecting retail space gives workers better dining and shopping options.

Business

E2 Wednesday, September 11, 2019

OSHDP calls for action, agenda for new housing department Amor Maclang

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FIRST DIBS IN REAL ESTATE

APPING its recent (August 28 to 30, 2019) 10th National Convention in Davao City, the Organization of Socialized and Economic Housing Developers of the Philippines (OSHDP) has called for the formulation of an action agenda to implement the new Department of Human Settlements and Urban Development (DHSUD).

“This is our unified call for charting a new vision and for a comprehensive human settlements and urban development framework for the year 20202040,” Engr. Jefferson S. Bongat, OSHDP national president said in a press statement.

“This aims to broaden the perspective, not only on human settlements program, but also of urban development in the country,” Marcelino C. Mendoza, OSHDP chairman of the board, said for his part.

OSHDP is touted as the leading organization of mass housing developers in the country founded some 24 years ago to champion the cause of low-end housing, comprising the bulk of the country’s housing need and current 6.5 million housing backlog.

OSHDP also expressed its strong support to the newly established DHSUD, as it resolved to cooperate with the department in the harmonization of existing policies, rules, regulations and other issuances “to ensure efficiency in the delivery of DHSUD’s services,” OSHDP’s convention resolution said.

For his part, Engr. George Richard F. Siton, OSHDP national vice chairman, added that the proposed DHSUD’s development framework will also take into

consideration disaster resiliency, inclusiveness, transportation and mobility, as well as digital governance and innovation.

In helping cast these DHSUD vision and development agenda, OSHDP directed its call for cooperation to DHSUD, the key government shelter agencies, national government agencies, including local government units.

In pursuit of the current administration’s campaign, OSHDP also committed to promote integrity and accountability, efficiency and effective practices in the delivery of housing and basic services.

In this regard, “OSHDP resolved to review and examine all targets for shelter and housing set under the Philippine Development Plan 2017-2022, the effectiveness of all performance indicators visà-vis the new vision and agenda, under the new regime, and expand these performance indicators to incorporate other ‘critical areas’ that need special focus and improvement,” added Gino Olivares, OSHDP vice president.

Along this line, OSHDP said it will work closely with DHSUD, Anti-Red Tape Authority (Arta) to promote simplification of government permitting processes, and rationalization of overlapping roles

OSHDP officers with Secretary del Rosario

and functions of other national government agencies and local government units, in accordance with the Ease of Doing Business and Efficient Government Service Delivery Act, or RA 11032.

OSHDP also vowed to innovate and make use of technology-based approaches to achieve the abovementioned purposes.

For the benefit of home buyers/ home borrowers, OSHDP will seek to work closely with frontline government offices to address critical processes. This pertains particularly to Pag-IBIG Fund, Bureau of Internal Revenue, Local Assessor’s Office, and the Land Registration Authority. This is in connection with further improving (housing loan) take out mechanisms, issuances of BIR certificates of authority to register, electronic primary entry book, and printing of judicial forms.

In support of housing-related legislative initiatives, OSHDP also resolved to review outdated laws in property registration, and related processes, in the light of technological advances, e-commerce, and blockchain technologies.

OSHDP plans to take the following actions, in line with its active leadership in housing policy-making and governance, and consistent with its role as privatesector partner in the delivery of affordable and quality housing— participation in the National Human Settlements Board, different (housing) Technical Working Groups, Housing Policy Working Committee, to bring in the privatesector agenda in policy-making and participatory governance.

OSHDP expressed its solid

advocacy to expand housing finance by calling on the Department of Budget and Management, and Congress to facilitate a firm budgetary commitment, as OSHDP resolves to push for the following actions: n Human settlements and urban development in the short, medium, and long terms, including but not limited to earmarking P50 billion yearly up to 2022; n T he i nc lu s ive ne s s a nd strengthening of the primary mortgage market to accommodate low-income, minimum-wage and informal-income earners; n New subsidy and alternative, rights-based housing financing program; n The expansion and development of the secondary mortgage market, and rental housing program; n A functioning, free marketled-housing, by redefining the price ceiling under RA 10884, on various types of housing units, and withdrawing unnecessary government regulatory interference; and n Redefining socialized housing based on a multimodal government program that complements the price ceiling, minimum floor areas and design standards definitions.

OSHDP also plans to adopt a comprehensive review of all price ceilings or amortization loan ceilings for socialized housing, lowcost housing, economic housing, medium-cost housing and openmarket housing.

In addition, the developers’ group resolved to call for the decentralization of accreditation and processing of socialized housing

and compliance. OSHDP also aired a collective call for technologybased, demand-driven, minimum development standards in urban and urbanizing centers, and the imperative of separate review of new standards under PD 957, and Batas Pambansa Bilang 220, independent of price ceilings.

OSHDP, likewise, resolved to work with technical experts and professionals in the field of architecture, urban planning, engineering, and fire protection, as well as with other stakeholders in the review and setting of minimum design and building standards and other reference codes on the development of mass housing, and other real-estate developments.

Moreover, the group resolved to explore several innovations in building systems, and materials, green technology and renewable energy.

In its openness to reforms, such as the Corporate Income Tax and Incentive Rationalization Act (Citira, or formerly the Trabaho bill), Property Valuation Reform Act, National Land Use Act, OSHDP urgently moved for the DHSUD to take an active leadership role and ensure that urban development and human settlements are very well taken into account.

Relatedly, OSHDP resolved to support legislative efforts in lowering down corporate income taxes.

OSHDP pointed out that it will object to the removal of any tax incentives and exemption program that are an integral feature of the Balanced Housing Development Act. Any such removal (of incentives and exemptions) shall amount to making RA 7279, (as amended by

Menarco Tower receives WELL Gold certification M

ENARCO Tower is now officially one of the first WELL Gold-certified office buildings in Southeast Asia to date.

The first office building project of Menarco Development Corp., Menarco Tower unveiled its WELL Gold plaque from International Well Building Institute Asia during ceremonies held at the 32nd street tower in BGC. The official certificate was also handed over

by IWBI Asia Director of Business Development Samantha Allen to Menarco Development Corp.

Founder and CEO Carmen Jimenez-Ong. The WELL Building Standard

is a global tool that measures and monitors the health and well-being of buildings and its occupants.

It also certifies buildings according to verified and measurable financial outcomes of building tenants as a result of their respective employees’ productivity in terms of presentism, medical costs, task efficiency, among others. The certification conferred on Menarco Tower affirms the building’s efforts to create office spaces that are conducive for work, thereby giving businesses viable returns on their investments.

A WELL score card is based on seven concepts, namely: optimal

indoor air quality; safe and clean water for various uses; availability of fresh wholesome foods for better nourishment; specialized lighting and illumination systems; availability of fitness features and components; comfortable indoor environment; and optimum features that nuture health for the mind.

Some of Menarco Tower’s notable WELL-centric features and facilities include filtered air circulation, ambient music and natural light in fire staircases, healthy food choices in the food hall, and drinkable tap water.

“It makes good business sense

to invest on the welfare of occupants in an office building. The reality is that we spend more hours in our offices on a five or six-day workweek. This should make us think: how can we make those precious hours more productive and mentally and physically sound for everyone?” said Jimenez-Ong. Menarco Tower is also certified LEED Gold and recognized as Best Green Development (Philippine Property Awards 2016), further affirming the building’s environmental conscience that directly affects the overall well-being of the building’s occupants.

RA 10884), confiscatory and legally untenable. Otherwise, the repeal of the incentive provisions must necessarily carry the removal of the mandatory socialized housing compliance of main real-estate development projects.

“In our clear bias in favor of evidence-based policy-making, and establishment of a national data center, integrating an information system for housing starts, housing stock, inventory loss and obsolescence, and informal-settlement households and beneficiaries, OSHDP will work closely with the Philippine Statistics Authority, through the Center for Housing and Independent Research Synergies and the DHSUD,” Atty. Christopher Ryan T. Tan, OSHDP past national president and current CHAIRS president, emphasized.

This is to improve the national census and housing statistics, to include residential building construction in the regions, occupancy rates, housing starts, local shelter plans and data bank of potential housing beneficiaries.

To unify the private sector in the implementation of these vision and action agenda, OSHDP also resolved to strengthen its partnership with other stakeholders and other associations.

“In pursuit of this, OSHDP resolved further to strengthen its partnerships and collaborations with other real-estate professional associations, civil-society groups, and nongovernment organizations, through the Socialized Housing Alliance Roundtable Endeavour, and academe, and research centers through CHAIRS,” Tan added.

sMirror

Editor: Tet Andolong

E3

3 CONSIDERATIONS WHEN INVESTING IN THE RIGHT CONDO

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ENT or buy? This is the age-old dilemma of people looking for a new place to reside in. While logic will easily define pros and cons for both renting and buying, the decision greatly depends on your needs and resources.

HABITAT for Humanity Philippines CEO Kelly Koch hands a plaque of appreciation to Holcim Philippines Vice President for Communications Cara Ramirez

HOLCIM TO HELP REBUILD HOMES IN MARAWI

L VALENCIA Hills Tower E bedroom

With the boom in the real-estate industry and the influx of expatriate employees from BPO and online gaming firms, the residential sector has become highly competitive as seen in the explosion of new developments in the various parts of the Metro and even in other urban cities of the country. While there are many options available, there are very specific and personal factors to consider.

One particular development on the rise is Tower E of the already thriving Valencia Hills community, a master-planned development located at the corner of N. Domingo and Valencia Streets in Quezon City. Owned by Topsphere Realty Development Co. Inc., the development is part of Federal Land’s impressive real-estate portfolio which includes GT Tower International in Makati and Grand Hyatt Manila Residences in Taguig.

Architect Esteban Y. Tan designed the fifth tower of Valencia Hills with three crucial decision-making factors in mind taking into account that these factors define what a worthwhile investment should be.

Expense versus investment

THE main decision factor is money, or lack

thereof. This leads many condo-hunters to rent instead of buy. If, however, the plan is for a prolonged stay, then renting is not the better option as rent will turn out to be an expense that cannot be recovered. On the other hand, buying property will only be a worthwhile investment if both the unit bought and the area it is in are marketable.

The first step is to assess what the property will be for. Buying the property will be more suitable for families who are ready to settle down and see the unit as a permanent home. Professionals with a stable career can also consider investing in the property as a home base in the short term and an additional source of income in the long term. Those who are still exploring career opportunities or with no clear plans of settling down, however, will benefit from the flexibility of renting a unit.

Location, location, location

THE importance of location does not only apply to commercial spaces. It also applies to residences. Living in a prime location means easy access to one’s place of work and to essential services like hospitals, schools, places of worship and key

VALENCIA Hills Tower E

business hubs. Location will also define a certain lifestyle—your choice of locale must afford you conveniences and a level of enjoyment. With the worsening traffic conditions in the Metro, it’s ideal to reside closer to your workplace and necessities.

At Valencia Hills Tower E, residents benefit from lifestyle centers like Robinsons Magnolia and Greenhills Shopping Center, hospitals, such as St. Luke’s and Cardinal Santos, various educational establishments, such as Immaculate Conception Academy, La Salle Greenhills and Xavier School within a 3-kilometer radius. LRT 2 Gilmore Station and several transport options are also available within a few blocks of the property. While situated in the quiet section of New Manila, access to the cities of Manila, Makati, Pasig and San Juan is still present.

Quality of life

SOME of the first questions of potential buyers are the amenities included in the property. Pools, gyms and common areas are standard fare in high-quality

compounds, but the difference lies in how innovative, well-designed and wellbuilt these amenities are. On top of this, potential buyers should also consider the density of the property. In well-planned communities, residents enjoy privacy and personal space despite sharing facilities and amenities with other residents.

At the upcoming Valencia Hills Tower E, residents benefit from having only six to eight units on every floor of the 28-story building. This gives residents generous yet private living spaces with right outside their door.

Whether renting or buying will cost more in the long run is difficult to say, but it all boils down to what it will be used for and what one can afford. Renting gives flexibility while owning builds equity with a possibility of future income. Owners have the freedom to design their units and transform them into homes that are to their liking while renters are restricted by the terms of their lease.

Ultimately, whether it is to rent or to buy, the place still needs to feel like home.

A front-runner in sustainable luxury living B

EYOND its display of refined elegance and prime location in Filinvest City, Alabang, Botanika Nature Residences proves that modern and upscale living can go hand-in-hand with environmental sustainability with its four-star rating from BERDE—or Building for Ecologically Responsive Design Excellence, the green building rating scheme of the Philippine Green Building Council—which is a pioneer in residential developments in the Metro.

A signature residential masterpiece of premium real-estate brand Filigree, Botanika is one of its pilot projects under Berde certification system. Botanika ensured the building’s environmental performance from planning and construction, down to delivery, and has surpassed its initial aim for a three-star rating prior to project completion.

The project was also recognized as Best Apartment Philippines Award with a five-star rating from the Asia Pacific Property Awards 2018. The award is, yet, another affirmation that the concept behind the upscale garden resort-inspired condominium located in the dynamic Metro South is truly exceptional and world-class.

Botanika’s iconic leaf-shaped structure is an innovation in high-end condominium living. A collaboration between US-based Architecture International and renowned Leandro V. Locsin Partners, it features an atrium at the core which allows natural light and ventilation that can reduce energy use and water consumption.

Other green features include a 2.7-meter ceiling height for each unit, ensuring that the living space will allow better cooling capacity, thus, consume less energy; tinted tempered glass balcony door and windows which provides cross ventilation and balcony overhangs to minimize heat. Moreover, parking floors are underground and constructed to support the gardens and lawn areas, essentially becoming a large green roof over the basement.

Botanika’s commitment to authentic green living goes beyond its interior as it harmoniously coexists with its environs. With approximately 70 percent of its total land area allotted for gardens and open breathing spaces, the building itself was designed to respect and complement the natural rolling terrain of its location, while still clinging onto details like top-end finishes

and lavish amenities.

“Botanika is a condo complex that is laid out in a big garden, where greens are integrated in the whole development,” said Catherine Ilagan, Filigree head.

“But more than the literal greeneries, its core design is what really makes it an authentic green building. This ensures the high quality of life for its residents, which

is a luxury nowadays.”

A front-runner in sustainable luxury living that offers innovative green features, lush environs and world-class architecture, Botanika Nature Residences is now ready for occupancy, and makes for a truly great investment, especially among those who prefer a truly refined and sustainable lifestyle.

EADING cement maker Holcim Philippines Inc. will support a project by the United Nations Human Settlement Program (UN Habitat) and the Technical Education and Skills Development Authority (Tesda) to build new homes for 1,500 families displaced by the conflict in Marawi.

Holcim Vice President for Communications Cara Ramirez shared during the seventh Annual Asia-Pacific Housing Forum organized by Habitat for Humanity Philippines on July 31 that the company is set to fund masonry training for 300 beneficiaries.

UN Habitat will be responsible for recruiting the beneficiaries from among the residents of identified resettlement sites and coordinating logistics for the project. Tesda, through its regional training center in Iligan City, will administer the masonry course and certify as skilled workers those who pass.

Ramirez said the partnership with UN Habitat and Tesda is in line with the company’s corporate citizenship campaign, Holcim Helps, which tailors capacity-building support based on the needs of beneficiaries so programs are more sustainable and have a lasting positive impact.

“Holcim Helps focuses our efforts on education, livelihood and infrastructure programs, which are designed in collaboration with our communities so we can identify the programs that are relevant to them and answers their needs,” she added.

Ramirez shared that Holcim Philippines had extended similar support to communities displaced by a natural calamity, such as survivors of Typhoon Pablo in Compostella Valley in 2012 or vulnerable to one as the case of people living near the company’s Davao plant. The support for masonry trainings were implemented through Holcim’s flagship Galing Mason program, which equips beneficiaries with skills that allow them to contribute to the rebuilding of their homes and provides them options for livelihood.

Ramirez shared these as part of her talk on the company’s efforts to contribute to addressing the deficit of quality shelters in the country. She noted aside from providing quality cement to ensure the durability and quality of shelters being built, Holcim Philippines has also developed new products for specific applications that contribute to improving quality and reducing cost of construction.

“For example, local developers have grown to embrace masonry cement, which is better for finishing applications and more affordable than general purpose cement. While cement only accounts for roughly 10 percent of building costs, the savings from using the right cement can still help developers manage costs while also delivering quality shelters for their customers,” she said.

A biennial conference organized by Habitat for Humanity Philippines, the Asia-Pacific Housing Forum gathers both public and private stakeholders engaged in finding solutions for inadequate shelter issues and promoting affordable housing as a driver of economic growth. For this year’s forum, the newly formed Department of Human Settlements and Urban Development was the content partner.

Entrepreneur BusinessMirror

E4 Wednesday, September 11, 2019 • Editor: Vittorio V. Vitug

www.businessmirror.com.ph

Reverse logistics enterprise HMR Philippines sets sights on global expansion with new CEO

F

By Roderick L. Abad

our capacity and scale dramatically, resulting in better margins and cost efficiencies, and most important— the ability to attract more excess inventory to be managed, refurbished and remarketed,” she explained.

@rodrik_28

Contributor

ILIPINOS’ go-to surplus shop provider HMR Philippines Inc. has appointed a new chief executive officer (CEO)—Sharlene C. Powell—a visionary heir to the family’s business, whose bold effort not only ensures its continued growth and development, but also opens an opportunity to serve the global market’s need for household, office and industrial merchandises that are of high quality at reasonable prices.

The “second-generation” entrepreneur has assumed the role from her father, Randell Carman, who founded the conglomerate after retiring from the military over 40 years ago. Having worked her way up in the organization over the years, she is very capable of leading its diverse portfolio while introducing initiatives for potential business ventures.

Powell recently opened new doors for the organization by leveraging on the strong growth of Asia’s higher turnover of redundant assets and inventory. She has been a primary driver behind the company’s strategy to encapsulate market share in the growth of the secondary market space by establishing key partnerships and new franchise programs.

Synergies

HER design to expand HMR Group’s

reverse logistics infrastructure to service the increasing demand for the so-called excess assets services, especially from e-commerce platforms and manufacturers worldwide, proved to be a masterstroke that resulted in an unexpected source of growth to run with for the group.

“A fundamental piece of our profitability strategy is to grow revenues from both the reverse logistics services we offer and from the resale side as well,” she told the BusinessMirror. “I will very much focus on driving procurement and business development to ensure our reverse logistics will operate at an excellent profit margin levels while also attracting the necessary quality and volumes of inventory for us to remarket with positive returns. We’re confident that if we successfully derive synergies from these two revenue

New biz model

THE CEO’s goals extends from attracting allies with key locations for the new business model to raising longer term capital from strategic to financial investors to cover the Philippines. While commencing their reexport to some neighboring countries in Micronesia, she is already in discussions with strategic partners in Southeast Asia to establish the same model, as she foresees the volume of excess stock to supersede the Philippine market in the near future.

“We are always looking for potential business partners in the region. Any new country market we can effectively develop for reexporting means many more customers could gain access to good quality refurbished goods with excellent value for money. We often get contacted directly by parties that want to work with us. For example, recently we have been approached by Cambodian, Malaysian and Micronesian prospective

POWELL

streams, we’ll create great value for our shareholders.”

At present, Powell is working on the formation of the first full-cycle reverse logistics facility in Asia. This unconventional business model in the region reflects bullish trends in America and Europe. It is expected to generate enormous prospects for the business with opportune times due to disruptions facing traditional retail landscapes.

“The next big project for the company is the expansion of our reverse logistics facility. This will increase

business partners and we’re always happy to discuss with others who might be interested,” she shared.

HMR Philippines initially was founded by Powell’s parents as a heavy metals recycling business.

Since then, it has grown into a successful corporation of highly synergetic businesses in auctions, wholesale, logistics, telco fabrication, recycling, e-commerce, design and fit out, and others. The company has a core competency around the reverse supply chain of capital assets.

Corporate philosophy

BEING the CEO, Powell leads an organizational infrastructure comprised of over 3,000 highly trained staff and executives. Her ingenious, inclusive and innovative leadership style befits a culture founded upon deeply ingrained values of forward thinking, conscientiousness, and a strong sense for urgency and flexibility to change.

Powell’s philosophy of HMR boils down to “helping every traditional business recover more return and value with their assets on their books to ultimately upgrade and remarket affordable equipment to organizations, small and medium enterprises, resellers, franchisees and end-consumers.”

I will very much focus on driving procurement and business development to ensure our reverse logistics will operate at an excellent profit margin levels while also attracting the necessary quality and volumes of inventory for us to remarket with positive returns.

We’re confident that if we successfully derive synergies from these two revenue streams, we’ll create great value for our shareholders.”—Powell

ASA Philippines pushes micro entrepreneurship to new heights

By Rizal Raoul S. Reyes @brownindio Contributor

W

HETHER they may be Muslims or Christians, micro entrepreneurs remain vital cogs in the economy because they contribute to economic inclusivity.

To ensure micro entrepreneurs are successful in running their micro enterprises, they must be provided all the support available so they can sustain their operations.

As micro entrepreneurs, Zaman Batara, 51, a resident of Mabasa Malulang, Cotabato, and Sohra Piti-ilan, 51, of Cagayan de Oro have always cited the importance of availability of capital to continue and expand their respective businesses.

Batara and Piti-ilan admitted it has always been a challenge to access capital for micro entrepreneurs like them because a lot of organizations are not serious on serving them.

The two ladies are engaged in selling cellphone accessories and assorted goods since 2004 and 2014, respectively.

In fact, Batara felt frustrated one time because her past microfinance organization did not deliver the services that they had promised.

One day, a friend told Batara she should try ASA Philippines for a change. The shift to ASA was beneficial to both her and Piti-ilan because it gave them the necessary push to expand their businesses.

Before joining ASA, Batara was enrolled in another microfinance organization. “[But] we become strongly attached to ASA Philippines because it is a proactive organization,” Batara said.

ZAMAN BATARA (left) and Sohra Piti-ilan attest that the assistance of ASA Philippines helps them build their businesses.

To ensure the business is on the right track, ASA’s microfinance officers regularly conducts visits to evaluate the performance of their enterprise. Furthermore, Batara and Piti-ilan said ASA also extends financial assistance to members who were affected by natural calamities, death, accidents, etc.

Batara secured a first-time loan of P4,000 to finance her budding business. She raised the bar when she was granted a loan of P20,000 for her second cycle. As her business grew, she got P70,000 for her third cycle.

For the fifth cycle, she got P90,000.

Before joining ASA Philippines, Batara and Piti-ilan were members of ASA Philippines’s counterparts in Cagayan de Oro. Aside from helping them grow their businesses, Batara and Piti-ilan said ASA Philippines also help members when they experience accidents, such as fire and typhoon.

“Members don’t need to go to ASA Philippines to get their assistance. We will go to their place and check out the real situation,” said

Norfarisah Abolais, Islamic financing implementing officer.

Lenie Delguera, regional administrator of region 34 of ASA Philippines, said the organization has developed programs to suit the needs of its members, For Piti-ilan, she got P6,000 for her first cycle, As her business gradually grew, ASA granted her P10,000 in the second cycle. “I reached P40,000 on my latest cycle to replenish my merchandise,” she said.

Delguera said members are also encouraged to save a portion of their income so that they can use in the future for emergencies. “Members treat ASA as their savings banks,” she said.

Moreover, she said members could also get rebates from their savings under the Islamic financing concept of Ibraa.

The two said the entry of ASA enabled them to engage in micro entrepreneurship through the Islamic financing without the need to seek assistance of the loan sharks.

ASA also provides assistance for education, house renovation, toilet construction and solar energy equipment installation.

The two hardworking ladies said they want to pay their loans on a shorter span so they can acquire more loans to expand the business. Batara has a stall in Commonwealth Market in Quezon City selling ready-to-wear items while Piti-ilan has four stalls in Cagayan de Oro. “I plan to buy long dresses in Jakarta and sell it here in Cagayan de Oro for the Muslim ladies,” Batara said.

Both Batara and Piti-ilan agreed a bigger inventory is always an asset for the business because buyers believe businesses are experiencing

the good times.

If the clients are experiencing hard times, Delguera said, ASA Philippines allows them to borrow money from their savings.

Piti-ilan and Batara said the entry of ASA Philippines in Cagayan de Oro has helped them a lot in growing their business and helping them in their financial problems. “For instance, I need to repair the roof of my home, I can go to ASA Philippines for financial assistance,” said Batara.

Aside from financing, ASA

Philippines offers subsidized financing, such as Murabaha (costplus), Ijarah (lease to own agreement) in water and sanitation, home, solar home system and Qard Hassan (benevolent loan).

Islamic financing is a banking or financing activity that complies with Shari’ah (Islamic law) and its practical applications through the development of Islamic economics.

The principles of Islamic financing originated from the Holy Quran and the Sunnah, the sayings, deeds

and endorsements of the Prophet Muhammad.

As of December 2018, ASA Philippines has 1,150 branches all over the Philippines. Further, the microfinance organization has 117 extension units and 284 satellite units.

In terms of geographical coverage, Luzon has the biggest with 52 percent, with Visayas and Mindanao tied at 24 percent.

It is present in 25,618 barangays, 1280 municipalities, 145 cities and 82 provinces.

FRANCORP, the world’s largest franchise consulting company, bagged for the second time the International Master Franchise Award (Service Category) at the recent Franchise Excellence Awards 2019, enshrining it to FEA’s list of Hall of Famers. In photo receiving the award are Francorp PHL Managing Director Noel Siggaoat (fourth from left) and Francorp PHL Chief Marketing Officer Chris Lim (fourth from right), with (from left) Philippine Franchise Association Chairman Dr. Alan Escalona, University of Asia and the Pacific President Dr. Winston Conrad Padojinog, Undersecretary of Department of Trade and Industry Rowel Barba, Philippine Food Exporters Inc. President Roberto Amores, Isla Lipana & Co. Chairman Atty. Alex Cabrera, and PFA President Richard Sanz. Francorp PHL executives, Past President Manuel Siggaoat, Chief Executive Officer Bing Sibal-Limjoco and Chairman Dr. Samie Lim were also accorded the Leadership Excellence Award and the Legacy Award by the PFA. Francorp clients also won big taking home over 25 awards, including, Potato Corner (Best Overall Marketing Campaign Award, Global Filipino Franchise Award and President’s Award), Chatime (International Master Franchise Award), Jollibee (Best Overall Marketing Campaign Award and Inclusive Business Model Program Award), Fruit Magic (Inclusive Business Model Award), Toby’s Sports (Outstanding Filipino Franchise), Max’s Restaurant (Inclusive Business Model Award and Franchisee Award), and Barefruit Guyabano (Inclusive Business Model Program Award and Most Promising Filipino Franchise Award). Francorp offers franchisability test via Francorp.com.ph and a free franchise consultation by calling 638-3149 to 50.